Sufficiency Economy Philosophy – Can it Save the World?
Sufficiency Philosophy is not an Economic Policy. The King was the product of Lausanne, Switzerland. He was born there and grew up there. He wanted to study natural sciences first, but had to switch to political sciences when he found out that he is the King. The concept of sufficiency is not new, but has been accepted by academic circles only recently. It's the part of the ancient philosophy. The King is following the Buddhist path. Platon was already writing about who could be a king. The King is a political and social thinker but he also experimented a lot.
Silent Spring is an environmental science book written by Rachel Carlton in 1960s describes best the position of Thailand. Then follows Small Is Beautiful,published in 1973, a book that brought Schumacher's critiques of Western economics to a wider audience during the1973 energy crisis and emergence of globalization. Schumacher's philosophy is one of "enoughness", appreciating both human needs, limitations and appropriate use of technology. It grew out of his study of village-based economics, which he later termed Buddhist Economics.
The King's speech 1974: The development process must be step by step, beginning with building the foundation where the people have sufficient basic needs, food and other basic necessities, using economics method and appropriate development. After secured a firm foundation they can then gradually work and build more.