Sufficiency Economy Philosophy
Thailand’s Sufficiency Economy Philosophy stems from remarks made by His
Majesty King Bhumibol Adulyadej throughout his 58 years of the throne (NESDB,
2004a). It stresses the ‘middle’ path as the overriding principle for Thai people’s conduct
and way of life at the individual, family, and community levels. Within the philosophical
framework, choice of balanced development strategies for the nation in line with the
forces of globalization is allowed, with the need for adequate protection from internal and
external shocks. In particular, after the Asian economic crisis in 1997 in which numerous
business organizations in Thailand went bankrupt, His Majesty reiterated the philosophy
as the way to recovery that would lead to a more resilient and sustainable economy
(NESDB, 2004b).
The Sufficiency Economy Philosophy framework (see Figure 1) comprises three
components and two underlying conditions (Piboolsravut, 2004). First, Sufficiency
entails three components: Moderation, Reasonableness, and requirement for a Selfimmunity
system, i.e. the ability to cope with shocks from internal and external changes.
Second, two underlying conditions necessary to achieve Sufficiency are Knowledge and
Morality. ‘Sufficiency Economy’ requires breadth and thoroughness in planning,
carefulness in applying knowledge, and the implementation of those plans. As for the
Moral/Ethical condition, ‘Sufficiency Economy’ enforces the conditions that people are
to possess -- honesty and integrity -- while conducting their lives with perseverance,
harmlessness and generosity. The Sufficiency Economy Philosophy serves as a guide for