H.E. Mr. Theera Wongsamut
Minister of of Agriculture and Cooperatives
The Ninth Asia –Pacific Cooperative Minister’s Conference
At The United Nations Conference Centre, Bangkok
27 February 2012
The Sufficiency Economy Philosophy
“Sufficiency Economy” is a philosophy bestowed by His Majesty the
King to his subjects through royal pronouncements made 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
expanded on the concept of “Sufficiency Economy” in further
remarks made in December 1997 and again in December 1998. The
philosophy points the way to recovery that will lead to a more
resilient and sustainable economy, better able to meet the
challenges arising from globalization and other changes.
* A working definition compiled from remarks made by His Majesty the King on various occasions and approved by His Majesty and sent by His Majesty’s Principal
Private Secretary to the NESDB on November 29, 1999.
Philosophy of “Sufficiency Economy”
“Sufficiency Economy”
is a philosophy that
stresses the middle path
as an overriding
principle for
appropriate conduct at
all levels of society.
“Sufficiency”
means moderation,
reasonableness, and the
need for self-immunity to
gain sufficient protection
from impacts arising from
internal and external
changes.
HM King’s Philosophy of "Sufficiency Economy”
The Middle Path
Moderation
“Immune”
System
Reasonableness
Wisdom Condition
(an application of knowledge with due
consideration and prudence )
Moral Condition
(honesty, integrity, diligence, patience,
perseverance)
Leading to
Life/Economic/Social
Balance/Stable/Sustainable
Sufficiency
Economy
and its
application
 The New Theory is divided into three consecutive stages
comprising with :
(1) production for self-sufficient
(2) grouping themselves for improving their capability, and
(3) launching their production into business.
1. First step The aim is to let the farmers be able to support
themselves (self-sufficiency) especially concerning rice. If the main
problem is water then they should dig a pond in their land to make
sure that they have enough water for farming and household usages
which they might need support from the government or private sector
in digging the pond.
2. Second step Farmers should work together and create a
cooperative to reduce the cost of production and for saving purposes
as well as social security and together they will also have more
negotiating power in selling their products to the markets.
3. Third step For developed communities, further expansion of
the production process and commerce such as cooperative stores or
rice milling factories can rely further from the cooperation from
commercial banks or oil companies in improving their livelihood.
10
The New Theory
the land should be divided into a proportion of 30:30:30:10 as follows:
1st portion: Farm pond
=
2nd portion: Main production/Paddy field =
3rd portion: Other production
=
th
4 portion: Housing & others
=
30%
30%
30%
10%
Strong Foundation
Step – by – step
(Strengthening
people in the
community)
self-help /
self
responsibility
Philosophy of Sufficiency Economy
Philosophy of Sufficiency Economy