16-17 February 2012
Plaza Athenee Hotel, Bangkok Thailand
1. Introduction
On the Celebrations on the Auspicious Occasion of His Majesty the King’s 7th Cycle Birthday Anniversary, 5th December 2011, Thailand’s leading institutions (the National Assembly, King Prajadhipok’s Institute, Thammasat University, Office of the National Economic and Social Development Board, Thailand Development Research Institute, Research and Development Institute of Sufficiency Economy Philosophy Foundation, and the Pridi Bhanomyong Institute) have joined together to hold an international conference on sufficiency economy, titled “The Meaning of Sufficiency Economy: Theory and Practice in Society, Economy and Business”, to take place on 16- 17 February 2012 at Plaza Athenee Hotel, Bangkok Thailand.
2. Rationale
Since HM the King introduced the idea of ‘sufficiency economy’ in his birthday address in December 1997, the idea has gained currency among Thailand’s political institutions, academics, and the wider public. The rapid circulation of sufficiency economy owed much to the experiences and disillusionment during the unfolding Asian economic crisis in the same year. However, the meaning of the philosophy remained unclear to many for years following the speech. Its features gradually took shape after the adoption of sufficiency economy as Thailand’s national development paradigm. The UNDP Report on Thailand in 2007 aimed to outline the concept more clearly by citing the application of the philosophy in various societal sectors, namely the grassroots level, business, and the national economy. Sufficiency economy, taking form through the contributions of various institutions and academics, has seen a wide range of interpretations of its aim and origins, as well as different views about its application.
Today there is widespread agreement that sufficiency economy is meant as a development alternative based on an attitude towards life that encompasses three components: moderation, reasonableness, and self-immunity. Questions however remain, such as: What makes sufficiency economy different from other development alternatives, notably those that stress sustainability and empowerment of communities? Is it applicable by all the actors as are cited in the UNDP Report? To what extent can it be incorporated in a country firmly integrated in the globalized economy?