Sufficiency Economy posits that an individual should be able to lead a reasonably comfortable life without excess or overindulgence in luxury. That is, if extravagance brings happiness it is permissible only as long as it is within the means of the individual. As His Majesty stated in a Royal Speech on December 4, 1998, “If one is moderate in one’s desires, one will have less craving. If one has less craving, one will take less advantage of others. If all nations hold this concept of moderation, without being extreme or insatiable in one’s desire, the world will be a happier place.”