Importantly, we must recognize the genuine benefits of the sufficiency economy philosophy in strengthening life and happiness, which leads to a peaceful and sustainable society. This article proposes that the philosophy of sufficiency economy conveys new theory in addressing current development challenges, which are issues of institutions, human capital, environmental sustainability and the role of government. Pdf sufficiency economy and sustainability researchgate. Thailand new theory sufficiency economy permaculture thailand.
Sufficiency economy and backdated claims of its application. The sufficiency economy philosophy sep is a development approach based on buddhism creating sustainable development through the integration of the physical, social and spiritual dimension. Sufficiency economy philosophy sep was introduced in 1974 by his majesty the late king bhumibol adulyadej. The philosophy of sufficiency economy, as a new paradigm of development, aims at improving human. An economic and social model pieced together after decades of practical experience and personal meditation. The philosophy of sufficiency economy, bestowed by his majesty the king bhumibol adulyadej, to the people of thailand in 1974 was reiterated again after the. Thailand has been presenting the sufficiency economy philosophy, which complements the united nations 2030 sustainable development goals, in the international arena, and has been able to gain international acknowledgment for this. Download file to see previous pages it is now familiarly known as sufficiency economy principles. Sufficiency economy is a philosophy bestowed by his majesty the king to his subjects through royal pronouncements made on many occasions. Sufficiency economy philosophy and happiness of farmers in.
The sufficiency economy philosophy is an innovative approach to development designed for practical application over a wide range of problems and situations. The philosophy of the sufficiency economy is one of these paradigms. This applies to conduct starting from the level of families to communities and to the nation in terms of development and administration, so as to modernize in line with the forces of globalization. This chapter describes the rise of the sufficiency based school movement in thailand, which is an application of the sustainable economy philosophy sep to education.
Moderation has since become the guiding spirit of the country. Although thailand has previously applied the sufficiency economy philosophy in its development paradigm, few quantitative studies focus on the magnitude of the effect of sufficiency economy philosophy on happiness. Result from ordered logit regression shows that sufficiency economy intensity sei has a strong positive. Sufficiency economy philosophy for sustainable future iopscience. There is now a process of certification for sufficiency schools, and for sufficiency educational learning centres selcs, which are schools able to offer teaching, advice. The philosophy can be summed up in one paragraph, as translated from the thai. The sufficiency economy philosophy and strategic hrd. The sufficiency economy philosophy is initiated by his majesty the king bhumibol adulyadej of thailand. A philosophy, an approach sufficiency economy philosophy has originated from a lifelong accumulation of knowledge and experiments by his majesty king bhumibol adulyadej.
The hardworking monarch, who had intimate knowledge of the peoples problems and had been advising those in the agricultural sector, who made up the majority of the population, spelled out the new theory in his sufficiency economy philosophy. Adopting the sufficiency economy philosophy as the thai way of. For over three decades, through his countless addresses and remarks, his majesty offered his insight into a sustainable way of life to his people. This focuses on the farmers who live in upper northern thailand. A contribution to the theory of development prasopchoke mongsawad the king of thailands philosophy of sufficiency economy highlights a balanced way of living. Thai community in dc and nearby areas celebrated the coronation of king rama x of thailand by making merits and doing good deeds at wat thai washington dc. Bestowed by his majesty king bhumibol adulyadej on the people of the kingdom of thailand, the sufficiency economy philosophy has now firmly taken root in thai society. Apr 04, 2016 thailand as the worlds premier land of happiness, respect and hospitality, through the sufficiency economy.
Among these, twentyfour asoke communities have applied the kings sufficiency economy philosophy with buddhist principles for their way of life. It is my pleasure and honour to introduce the thailand human development report 2007, with the theme of sufficiency economy and human development. Unesco has already been involved in activities related to the sufficiency economy. Ministry of foreign affairs, kingdom of thailand the sufficiency economy philosophy was incorporated into the ninth national economic. Sep is an approach for sustainable development which espouses moderation, reasonableness and prudence as development framework based on knowledge and virtue. The crucial feature of sufficiency economy is its focus on human development, which emphasizes the right mindset. The philosophy called, sufficiency economy or the middle path can be applied to personal, corporate and family finances, as well as to national development. Thailand applies sufficiency economy philosophy to promote. Feb 19, 20 the philosophy can be summed up in one paragraph, as translated from the thai.
Pdf the sufficiency economy philosophy sep and its. Pdf the sufficiency economy philosophy sep, the driving principle for people or organizations way is based on. The philosophy of sufficiency economy kanidtah27878. The sufficiency economy philosophy sep, the driving principle for people or organizations way is based on. Major components within the philosophy of a sufficiency economy include moderation, prudence, and selfimmunity together with knowledge and morality.
Philosophy of sufficiency economy for communitybased. Sufficiency economy as the model of thailands community. And this was well before the major economic crisis in thailand. The sufficiency economy is a philosophy developed by king bhumibol adulyadej of thailand through his royal remarks over the past three decades. Sustainable economic development through the sufficiency. Thailand promotes partnerships for a sustainable world times volume 189 number 11, march 27, 2017. The philosophy of sufficiency economy, as a new paradigm of development, aims at improving human wellbeing as a development goal. It has been elaborated upon by thai academics and agencies, promoted by the government of thailand, and applied by over 23,000 villages in thailand that have sepbased projects in operation. Thailands path towards sustainable development goals published in commemoration of the special presentation of the united nations development programmes human development lifetime achievement award to his majesty the late king bhumibol adulyadej on 26 may 2006 26 may 2017 second edition. At present, 22 countries have become our partners under sep for sdgs partnership. The chaipattana foundation concepts sufficiency economy. From the sufficiency economy philosophy to sustainable. The idea crystalized in the wake of 1997 asian financial crisis and. Since then, the sufficiency economy philosophy sep has become thailands development compass.
The philosophy of sufficiency economy is basically a means to achieve happiness at the individual, community and country. Adopting the sufficiency economy philosophy as the thai way of life, is equivalent to. Sufficiency economy philosophy sep, is a visionary and awardwinning idea, attributed to the late king bhumibol adulyadej. Three principlesmoderation, reasonableness, and selfimmunityalong with the conditions of morality and knowledge. Sufficiency economy sufficiency economy is a philosophy introduced by king bhumibol adulyadej. Dec 01, 2016 what is the philosophy of sufficiency economy. Apr 03, 2018 the purpose of this paper is to investigate the nature and level of sufficiency economy philosophy sep disclosure in the annual reports of companies listed in the stock exchange of thailand set, to test the influence of corporate governance on sep disclosure, and to examine the influence of corporate governance, and sep disclosure on corporate financial performance. The sufficiency economy philosophy sep is a development approach based on buddhism creating sustainable development through the integration of the.
Understanding the philosophy of the sufficiency economy. The sufficiency economy is a happiness development. Sufficiency economy movement subcommittee 2007 a a compilation of his majesty king bhumibol adulyadejs speeches from 1950 to 2006 that are related to sufficiency economy 5th ed. It also advocates a way of making decisions that helps achieve human development goals. We should learn from good practices being conducted by individuals and organizations. Pdf introduced over the backdrop of collective humanitys semiconscious march towards unsustainable future by his majesty king bhumibol. Sufficiency economy is the name of a thai development approach attributed to the late king bhumibol adulyadejs sufficiency economy philosophy sep. The influence of corporate governance, and sufficiency. The sufficiency economy philosophy in king bhumibols initiative is a principle for the development of people especially their ideas and the relationship of adequate living, that is providing.
May 21, 2009 sufficiency economy is a philosophy serves as guide for the way of living behaving for people of all levels toward the middle path. The possibility of applying the philosophy of sufficiency. Sufficiency economy is a philosophy that stresses the middle path as an overriding principle for appropriate conduct by the populace at all levels. Sufficient economy philosophy united nations partnerships. The royal initiative of the philosophy of sufficiency economy although his majesty has been promoting selfreliant or sustainable farming since the 1950s, it is generally accepted that the idea of sufficiency economy had been brought up in the 1970s during in his majestys speeches. Even though it was designed to help the kingdom advance, while retaining its traditional values, sufficiency economy can also serve as a guide for individuals, firms, and families. Thailand as the worlds premier land of happiness, respect and hospitality, through the sufficiency economy. It promotes a middle path, especially in developing the economy to keep up with the world in the era of globalization. The king of thailands philosophy of sufficiency economy highlights a balanced. Sufficiency economy philosophy has originated from a lifelong accumulation of knowledge and experiments by his majesty king bhumibol adulyadej. Sufficiency economy philosophy sep sep at a glance the sufficiency economy philosophy sep provides orientation for sustainable lifestyle based on the principles of moderation, reasonableness, and prudence, using both knowledge and virtues for decisionmaking.
Moderation stressing the middle way between hunger and luxury. Philosophy of sufficiency economy for communitybased adaptation. Apr 01, 2004 his majestys philosophy of sufficiency economy lies at the heart of thailands development thinking, and indeed it can serve as guidance for the countrys economic and social developments. Sufficiency economy is a philosophy that guides the livelihood and behavior of people at all levels, from the family to the community to the country, on matters concerning national development and administration. In response to the countrys long excess, sep advocates moderation, appropriate technology, careful risk management, and flexibility. The sufficiency economy philosophy sep and its international role in sustainable development as seen in application in the sep model villages of the lao. The transition from socialism to state capitalism in the lao pdrs economic direction has not as yet entirely resulted in the abandonment of the sufficiency economy philosophy seplike ethicallybased development policies but today these policies. The sufficiency economy philosophy in king bhumibols initiative is a principle for the development of people especially their ideas and the relationship of adequate living, that is. The main objective of this research is to explore the possibility of applying the sufficiency economy philosophy in purchasing of the organizations.
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