"Sufficiency" is not outdated; it remains a fundamental principle applicable in this era.

If you think that The Philosophy of Sufficiency Economy is something outdated, you are completely mistaken. In the 21st century, when the world is filled with evil from overconsumption and endless competition, the Philosophy of Sufficiency Economy has become an approach that is more necessary than ever before.

The Origin of “Sufficiency” - From the Early Stages of Severity

The story begins in 1974 when His Majesty King Bhumibol Adulyadej of Thailand delivered a royal speech to students at Kasetsart University. At that time, Thailand was experiencing rapid economic growth, but most of the capital came from foreign loans, creating inequality and numerous environmental problems. He then advised establishing a foundation of “enough to have, enough to eat, enough to use” to overshadow the morality in national development.

Later, in 1996, he warned that “Being a tiger is not important; what matters is having a sufficiency economy.” The country does not need to become a trading superpower but should have a reasonable level of sufficiency—moderation and self-reliance. This lesson was confirmed in 1997 when the Asian financial crisis occurred. Thailand and neighboring countries committed to relentless growth faced defeat. During that time, the Philosophy of Sufficiency Economy became a refuge that helped many communities recover.

The Philosophy of Sufficiency Economy is Living with Real Payments

Remember that The Philosophy of Sufficiency Economy does not mean going out to plant rice, weave cloth, or produce food by oneself. The word “sufficiency” means living based on moderation, reasonableness, and having a good immune system to adapt flexibly to economic changes.

It can be divided into three main points:

Moderation - Not greed. It involves earning income honestly, not deceiving others, and spending according to one’s living standards. Not extravagantly borrowing.

Reasonableness - Think before acting, plan, and analyze whether it is appropriate. Because acting on impulse will lead to the same results.

Immunity System - Prepare to handle unexpected events such as economic downturns, rising prices, or emergencies.

However, there are two additional conditions to exclude: Knowledge and Morality. Knowledge involves education and learning from personal experience and experts. Morality includes honesty, diligence, and fairness in work. Both serve as supplies for life.

The Reality of the Sufficiency Economy

In Agriculture

Many Thai farmers have adopted the principles of the sufficiency economy, such as mixed farming, rice cultivation, vegetable gardening, and fish farming. The key is that farmers are not dependent on a single crop. When rice yields are poor, they still have vegetables and fish to rely on, reducing risks and generating diverse income.

Additionally, there is the “New Theory Agriculture” developed by Luang Pho Chai Lek Inthachurot, which divides land into different proportions, such as 30% rice fields, 30% for other crops, 30% for livestock, and 10% for water reservoirs. The sufficiency economy is not just in books or lectures; it is a practical method that can be applied.

In Industry and Commerce

Businesses committed to the sufficiency economy philosophy choose to utilize resources efficiently, set production scales suitable for management capacity, and focus on long-term profits rather than short-term gains. Managers must be honest, not exploit consumers, workers, or raw material suppliers. They should prioritize local raw materials and local markets first.

This type of business may not seem immediately profitable, but it is a long-term approach that sustains the business over time and does not rely on opportunistic short-term profit accumulation.

Our Choices

The sufficiency economy philosophy can be applied across all sectors and forms of the economy, whether in finance, industry, commerce, stock markets, or even international investments. Just adhere to the middle way and remember to:

• Study, learn, and develop skills
• Be patient and diligent
• Conduct honest work
• Seek balance between work and personal life
• Plan finances carefully
• Spend reasonably
• Think carefully before acting

The middle way is not backwardness or obsession. It is about knowing oneself, understanding the rhythm, and knowing where to go next.

In fact, the Philosophy of Sufficiency Economy is the Art of Living

In 2006, the United Nations recognized His Majesty King Bhumibol Adulyadej as a “Developer King” and awarded the Human Development Lifetime Achievement Award because the sufficiency economy philosophy aligns with the UN’s (Sustainable Development Goals).

Whether you are a farmer, entrepreneur, employee, or investor, the sufficiency economy philosophy can help you live securely, sustainably, and without worry about external changes because you have already built a foundation and an immune system.

Sufficiency economy is about education, faith, consciousness, and above all, a life with mindfulness. Mindfulness in living allows you to manage even amidst many challenges.