Sufficiency Economy Philosophy

 

Since 1970 His Majesty Rama 9, King Bhumibol Adulyadej, proposed the Sufficiency Economy Philosophy (SEP) as the pathway throughout which Thai people will achieve real happiness. However, was in 1997, during the Asian economic crisis when His Majesty highlighted the importance of embrace sufficiency and put all his energy on promote SEP as a way of thinking and living in order to Thai people achieve both a better life and a better county.

 

In several speeches, the King stressed the need for a change in the way to understand development, thus to build up a country that doesn’t leave anyone behind.

 

“… to be a tiger is not important. The important thing for us is to have a sufficient economy. A sufficient economy means having enough to support ourselves… It doesn’t have to be complete, not even half, perhaps just a quarter; then we can survive…” His Majesty King Bhumibol.

 

Sufficiency Economy Philosophy has become a framework or mindset based on moderation, prudence, and social immunity, which also uses knowledge and virtue as guidelines for wise decision-making processes. Therefore, and significantly, SEP has been applied at the personal, community and national levels leading from individuals to live happy and meaningful lives and corporations to adopt powerful sustainable development business models.

 

“We do not have to be extremely prosperous…If we can maintain this moderation, then we can be excellent” His Majesty King Bhumibol.

That’s how Thai brands, entrepreneurs, Cities, local government, farmers and mostly of Thais have been adopted the Sufficiency Economy Philosophy in a wide range of their lives. SEP can be found from business models to Thai national sustainability strategy. For instance, business sector has been one of the economic fields that SEP has permeated in the last years. Moving small and big companies from business as usual in a competitive economy towards sustainable brands in a sufficiency economy. PorLaewDee, the creators are examples of how royal wisdom has boosted business to find a meaningful role in bringing happiness and development to the country.

Porlaewdee, the creators will be at activation hub to show how they apply SEP into their businesses.