Sufficiency Economy is a philosophy bestowed by His majesty the King to his subjects through royal remarks on many occasions over the past three decades .
The philosophy provides guidance on appropriate conduct covering numerous aspects of life. After the economic crisis in 1997, His Majesty reiterated and expaanded on the
"Sufficiency Economy"in remark made in December 1997 The philophy points the way for recovery that will lead to a more resilient and sustainable economy,better able to meet the challenges arising from globalization and other changes.
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Philosophy of the '' Sufficiency Economy
suffciency Economy is aphilosophy that stressec the middle path as an overridng principle for appropriate conduct by the populace at all levels. This applies to conduct starting from the level of the families. communities. as well as the level of nation in developmen and administraion so as tomodernize in line with the forces of globalization. Suffciency Economy means moderation, reasonableness, need of
selfimmunity for sufficient protecion from impact arising fron internal andexternal changes.To achieve this, an application of knowledge with due consideraion and produce is essential. In particular great care is needed in the utilization of theories and methodologies for planning and implementaion in every step At the same time, it is essential to strenghen the moral fibre of nation. so that everyone. businessmen at all levels. adheres first and integrity. In addition. a way of life based on patience , perseverance, diligence, wisdom, and prudence is indispensable to create balance and be able to cope appropriately with critical challenges arising from extensive and rapid socioeconomic , environmental, and rapid socioeconomic, environmental, and cultural changes in the world
