The Philosophy of Sufficiency Economy and its Three Pillars
- Moderation: Sufficiency at a level of not doing something too little or too much at the expense of oneself or others, for example, producing and consuming at a moderate level.
- Reasonableness: The decision concerning the level of sufficiency must be made rationally with consideration of the factors involved and careful anticipation of the outcomes that may be expected from such action.
- Risk Management: The preparation to cope with the likely impact and changes in various aspects by considering the probability of future situations.
Decisions and activities must be carried out at a sufficient level depending on two conditions:
Knowledge, comprising all-round knowledge in the relevant fields and prudence in bringing this knowledge into consideration to understand the relationship among the field so as to use them to aid in the planning and ensure carefulness in the operation.
Virtue to be promoted, comprising the awareness of honesty, patience, perseverance, and intelligence in leading one’s life.
The Philosophy of Sufficiency Economy and National Development
His Majesty’s Philosophy of Sufficiency Economy emphasizes that the producers or consumers try to produce or consume within the limit or limitation of existing income or resources first. This is the principle in decreasing the dependence and increasing the ability to control the production themselves, thus deceasing the risk from not being able to efficiently control the market system.
Sufficiency Economy does not mean that one must constantly be frugal. A person can indulge himself in luxury once in a while, provided that it is within his capacity to do so. But the majority of the country’s population often overspends beyond their means. Sufficiency Economy can lead to the goal of establishing economic stability. Fundamentally, Thailand is an agricultural country; therefore, the country’s economy should be keyed towards agro-economy and food stability in order to establish a stable economic system to a certain degree. This is an economic system that can help lessen the risk or economic instability in the long run.
“I may add that full sufficiency is impossible. If a family or even a village wants to employ a full sufficiency economy, it would be like returning to the Stone Age…This sufficiency means to have enough to live on. Sufficiency means to lead a reasonably comfortable life, without excess, or overindulgence in luxury, but enough. Some things may seem to be extravagant, but if it brings happiness, it is permissible as long as it is within the means of the individual…”
His Majesty’s birthday speech on 4 December, 1998
Sufficiency Economy can be applied to all levels, branches, and sectors of the economy. It is not necessarily limited to the agricultural or rural sectors, or even the financial, the real estate, and the international trade and investment sectors by using similar principles of emphasizing moderation in performance, reasonableness, and creating immunity for oneself and society.
The Philosophy of Sufficiency Economy as Life Guidance
His Majesty the King has comprehensive understanding of Thai society. Thus, in granting initiatives or delivering advice he would also take into consideration the people’s way of life and social norms to avoid internal conflicts that may obstruct the implementation.
How to lead a life in accordance with the Philosophy of Sufficiency Economy
Adhere to economizing by cutting down expenses in all aspects and forego extravagances in leading one’s life.
Adhere to pursuing one’s occupation with decorum and honesty.
Stop contending for beneficial gains and using harsh methods in commercial competition.
Never cease to find a way to escape hardship by attempting to gain knowledge in order to increase one’s income to the point of sufficiency.
Leading one’s life by following the good path, avoiding the bad, and adhering to religious principles
ปรัชญาเศรษฐกิจพอเพียงและหลักสาม-ดูแล: เพียงพอระดับของการไม่ทำอะไรน้อยเกินไป หรือมากเกินไปค่าใช้จ่ายของตนเองหรือผู้อื่น เช่น ผลิต และบริโภคที่อยู่ในระดับปานกลาง-Reasonableness: การตัดสินใจเกี่ยวกับระดับความพอเพียงต้องทำลูก โดยพิจารณาที่ปัจจัยที่เกี่ยวข้อง และระมัดระวังความคาดหมายของผลลัพธ์ที่อาจจะคาดหวังจากการกระทำดังกล่าว-เสี่ยง: การเตรียมการรับมือกับผลกระทบต่อแนวโน้มการเปลี่ยนแปลงในด้านต่าง ๆ โดยพิจารณาความเป็นไปได้ของสถานการณ์ในอนาคตตัดสินใจและกิจกรรมที่ต้องทำในระดับที่เพียงพอตามเงื่อนไขที่สอง:ความรู้ ความรู้ all-round ในฟิลด์เกี่ยวข้องและความรอบคอบในการนำความรู้นี้ในการพิจารณาเพื่อให้เข้าใจความสัมพันธ์ระหว่างเขตข้อมูลเพื่อใช้ในการช่วยในการวางแผน และตรวจสอบอย่างในการดำเนินการคุณธรรมเพื่อเป็นการส่งเสริม ประกอบด้วยจิตสำนึกของความซื่อสัตย์ อดทน ความเพียรพยายาม และปัญญาในการนำชีวิต ปรัชญาของเศรษฐกิจพอเพียงและการพัฒนาแห่งชาติของพระปรัชญาของเศรษฐกิจพอเพียงเน้นให้ ผู้ผลิตหรือผู้บริโภคพยายามที่จะผลิต หรือบริโภคภายในข้อจำกัดหรือข้อจำกัดของทรัพยากรหรือเงินที่มีอยู่ก่อน นี้เป็นหลักการในการลดการพึ่งพา และเพิ่มความสามารถในการควบคุมการผลิตเอง deceasing ดังนั้นความเสี่ยงจากการไม่สามารถควบคุมระบบตลาดได้อย่างมีประสิทธิภาพSufficiency Economy does not mean that one must constantly be frugal. A person can indulge himself in luxury once in a while, provided that it is within his capacity to do so. But the majority of the country’s population often overspends beyond their means. Sufficiency Economy can lead to the goal of establishing economic stability. Fundamentally, Thailand is an agricultural country; therefore, the country’s economy should be keyed towards agro-economy and food stability in order to establish a stable economic system to a certain degree. This is an economic system that can help lessen the risk or economic instability in the long run.“I may add that full sufficiency is impossible. If a family or even a village wants to employ a full sufficiency economy, it would be like returning to the Stone Age…This sufficiency means to have enough to live on. Sufficiency means to lead a reasonably comfortable life, without excess, or overindulgence in luxury, but enough. Some things may seem to be extravagant, but if it brings happiness, it is permissible as long as it is within the means of the individual…”His Majesty’s birthday speech on 4 December, 1998 Sufficiency Economy can be applied to all levels, branches, and sectors of the economy. It is not necessarily limited to the agricultural or rural sectors, or even the financial, the real estate, and the international trade and investment sectors by using similar principles of emphasizing moderation in performance, reasonableness, and creating immunity for oneself and society. The Philosophy of Sufficiency Economy as Life Guidance His Majesty the King has comprehensive understanding of Thai society. Thus, in granting initiatives or delivering advice he would also take into consideration the people’s way of life and social norms to avoid internal conflicts that may obstruct the implementation. How to lead a life in accordance with the Philosophy of Sufficiency EconomyAdhere to economizing by cutting down expenses in all aspects and forego extravagances in leading one’s life.Adhere to pursuing one’s occupation with decorum and honesty.Stop contending for beneficial gains and using harsh methods in commercial competition.Never cease to find a way to escape hardship by attempting to gain knowledge in order to increase one’s income to the point of sufficiency.Leading one’s life by following the good path, avoiding the bad, and adhering to religious principles
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The Philosophy of Sufficiency Economy and its Three Pillars
- Moderation: Sufficiency at a level of not doing something too little or too much at the expense of oneself or others, for example, producing and consuming at a moderate level.
- Reasonableness: The decision concerning the level of sufficiency must be made rationally with consideration of the factors involved and careful anticipation of the outcomes that may be expected from such action.
- Risk Management: The preparation to cope with the likely impact and changes in various aspects by considering the probability of future situations.
Decisions and activities must be carried out at a sufficient level depending on two conditions:
Knowledge, comprising all-round knowledge in the relevant fields and prudence in bringing this knowledge into consideration to understand the relationship among the field so as to use them to aid in the planning and ensure carefulness in the operation.
Virtue to be promoted, comprising the awareness of honesty, patience, perseverance, and intelligence in leading one’s life.
The Philosophy of Sufficiency Economy and National Development
His Majesty’s Philosophy of Sufficiency Economy emphasizes that the producers or consumers try to produce or consume within the limit or limitation of existing income or resources first. This is the principle in decreasing the dependence and increasing the ability to control the production themselves, thus deceasing the risk from not being able to efficiently control the market system.
Sufficiency Economy does not mean that one must constantly be frugal. A person can indulge himself in luxury once in a while, provided that it is within his capacity to do so. But the majority of the country’s population often overspends beyond their means. Sufficiency Economy can lead to the goal of establishing economic stability. Fundamentally, Thailand is an agricultural country; therefore, the country’s economy should be keyed towards agro-economy and food stability in order to establish a stable economic system to a certain degree. This is an economic system that can help lessen the risk or economic instability in the long run.
“I may add that full sufficiency is impossible. If a family or even a village wants to employ a full sufficiency economy, it would be like returning to the Stone Age…This sufficiency means to have enough to live on. Sufficiency means to lead a reasonably comfortable life, without excess, or overindulgence in luxury, but enough. Some things may seem to be extravagant, but if it brings happiness, it is permissible as long as it is within the means of the individual…”
His Majesty’s birthday speech on 4 December, 1998
Sufficiency Economy can be applied to all levels, branches, and sectors of the economy. It is not necessarily limited to the agricultural or rural sectors, or even the financial, the real estate, and the international trade and investment sectors by using similar principles of emphasizing moderation in performance, reasonableness, and creating immunity for oneself and society.
The Philosophy of Sufficiency Economy as Life Guidance
His Majesty the King has comprehensive understanding of Thai society. Thus, in granting initiatives or delivering advice he would also take into consideration the people’s way of life and social norms to avoid internal conflicts that may obstruct the implementation.
How to lead a life in accordance with the Philosophy of Sufficiency Economy
Adhere to economizing by cutting down expenses in all aspects and forego extravagances in leading one’s life.
Adhere to pursuing one’s occupation with decorum and honesty.
Stop contending for beneficial gains and using harsh methods in commercial competition.
Never cease to find a way to escape hardship by attempting to gain knowledge in order to increase one’s income to the point of sufficiency.
Leading one’s life by following the good path, avoiding the bad, and adhering to religious principles
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