It is important to recognize first that, at some level, the decision-making of the government is similar to the decision-making at the household level. If each household can apply Sufficiency Economy Philosophy to its daily life, then the government can do likewise.
Let us look at these three areas of application in more detail. The first area, macroeconomic management of the economy, deals with policies such as:
₋₋ Conservative fiscal policy: the avoidance of excessive government spending beyond its means;
₋₋ Prudent monetary policy: emphasis on an appropriate stance, policy flexibility, and preparation for future contingencies, and
₋₋ Cautious rules regarding external stability such as having a reasonable level of international reserves or external debts that are not excessive.
Upon reflection, we will find that all of these conservative policies do in fact conform to the concepts of moderation, reasonableness and self-immunity. In other words, good macro-policies would be the result if we applied Sufficiency Economy Philosophy to the government decision-making process at the macro-level.