CSR and Poverty Reduction based on the Sufficiency Economy Philosophy: A Case Study of Santi-Asoke Business Group in Thailand
“Poverty” is an oppressive suffering situation which varies directly with Demand or Desire and inversely with the increase in Supplies to meet these desires (or P=D/S). Thus, to reduce poverty, there are two possible ways: help poor people to increase their income so that they can increase the Supply and another is to help poor people to decrease their excessive desires in life.
The paradigm of poverty reduction according to the mainstream economics theory, which uses economic indicator such as poverty line as an objective target, is to help poor people to increase their income above the poverty line.
However, the paradigm of poverty reduction according to the Sufficiency Economy of His Majesty King Bhumibol Adulyadej of Thailand does not use poverty line as a fixed objective target. Rather, the frame of reference is the sufficiency level of each individual.
Under the current global trend of continuously increasing human population which is aggravated by higher life expectancy and longevity, exerts ever increasing pressure on the limited or slower growing pool of global natural resources. Phenomenon such as increase intensity in the fight for energy and global warming are symptoms of the problem.
Hence, the approach of poverty reduction and economics development according to the mainstream economics paradigm might even worsen the overall problem. Humanity might need a new paradigm that takes the long-term survival of the human race into consideration. Sufficiency Economy might be the new economic paradigm that could help in responding to and addressing the poverty and pressing problems of mankind.
The principle of Sufficien
CSR and Poverty Reduction based on the Sufficiency Economy Philosophy: A Case Study of Santi-Asoke Business Group in Thailand“Poverty” is an oppressive suffering situation which varies directly with Demand or Desire and inversely with the increase in Supplies to meet these desires (or P=D/S). Thus, to reduce poverty, there are two possible ways: help poor people to increase their income so that they can increase the Supply and another is to help poor people to decrease their excessive desires in life.The paradigm of poverty reduction according to the mainstream economics theory, which uses economic indicator such as poverty line as an objective target, is to help poor people to increase their income above the poverty line.However, the paradigm of poverty reduction according to the Sufficiency Economy of His Majesty King Bhumibol Adulyadej of Thailand does not use poverty line as a fixed objective target. Rather, the frame of reference is the sufficiency level of each individual.Under the current global trend of continuously increasing human population which is aggravated by higher life expectancy and longevity, exerts ever increasing pressure on the limited or slower growing pool of global natural resources. Phenomenon such as increase intensity in the fight for energy and global warming are symptoms of the problem.Hence, the approach of poverty reduction and economics development according to the mainstream economics paradigm might even worsen the overall problem. Humanity might need a new paradigm that takes the long-term survival of the human race into consideration. Sufficiency Economy might be the new economic paradigm that could help in responding to and addressing the poverty and pressing problems of mankind.The principle of Sufficien
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