Sufficiency Economy is Philosophy or Economy System ?

Social IssuesPhilosophy

  • Author Tewarit Maneechay
  • Published July 20, 2007
  • Word count 404

What is Sufficiency Economy ? Between are Philosophy or Economy System or both. Unofficial translation from major trend of Thai Social(read about Thai Social at ) that is to say Sufficiency Economy is Philosophy that emphasizes the middle path as an overriding principle for appropriate conduct by the populace at all levels as level of individuals, family, communities, nation in development and administration so as to modernize in line with the forces of globalization.

If consider only Sufficiency that don’t different with the Sufficiency Economy because Sufficiency in major trend is moderation, reasonableness and need of self-immunity for sufficient protection from impact arising from internal and external changes. To achieve this, an application of knowledge with due consideration and prudence is essential. In particular great care is needed in the utilization of theories and methodologies for planning and implementation in every step. At the same time, it is essential to strengthen the moral fibre of the nation, so that everyone, particularly public officials, academics, businessman at all level, adheres first and foremost to the principles of honesty 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 cultural changes in the world.

From the means of Sufficiency Economy and Sufficiency therefore is a philosophy or way of a person in the individual level more than the Economy system because economic system is a mechanism (social institution) which deals with the production, distribution and consumption of goods and services in a particular society. The economic system is composed of people, institutions and their relationships to resources, such as the convention of property. It addresses the problems of economics, like the allocation and scarcity of resources

And the Sufficiency Economy in major trend of Thai Social don’t say structure relations in economic system between human with human, human with socioeconomic that still ability to appropriate surplus value of the stratified that is near center of power in The World Stratified Society. So the Sufficiency Economy in major trend of Thai Social therefore is Political Discourse that the major trend or liberal capitalist economy can appropriate explanation in social as though Sufficiency Economy is capital economy that have moral.

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