Rationale
The New Theory is the most distinct and concrete example of the application of the Philosophy of Sufficiency Economy to the agricultural sector. His Majesty King Bhumibol initiated this theory to help Thai farmers who suffer from the impacts of economic crisis, natural disasters and other unproductive natural conditions.
The New Theory suggests that farmers apply the essential principles of the Philosophy of Sufficiency Economy, namely moderation, due consideration and self-immunity to their practice of farming as this would shield them from the risks and impacts of globalization and other uncontrollable factors in their farming.
The Risks and Impacts of Farming
New Theory: Integrated and Sustainable Agricultural System
In a more tangible sense, His Majesty developed the New Theory as a system of integrated and sustainable agriculture, embracing his thoughts and efforts in water resource development and conservation, soil rehabilitation and conservation, sustainable agriculture and self-reliant community development. The aim is to optimize farmland.
Key Formula
In tune with the Philosophy of Sufficiency Economy, His Majesty introduced the unprecedented approach to manage farmland. Efficient water management was also developed to ensure year-around farming. To adopt the New Theory agriculture, farmers are advised to follow these three steps:
Phase I
Farmland Division for Optimum Benefits