his majesty king bhumibol adulyadej dcvclopcd the philosophy of the sufficiency economy to lead his people to a balanced
way of life and to be the main sustainable development theory for the country the theory is based upon a middle path
between socicly at the local level and the market in the global context by highlighting a balanced approach the philosophy
allows the nation to modernize without resisting globalization but provides a means to countcract negative outcomes from
rapid economic and cultural transitions the sufficiency economy became critical during the economic crisis in 1997 in which
thailand needed to maintain stability to persist on self-reliance and develop important policies to recover by creating a self
self-supporting economy thai citizens will have what they need to survive but cxccss which would turn into waste