The Philosophy of Sufficiency Economy: a contribution to the theory of development

Prasopchoke Mongsawad
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Prasopchoke Mongsawad: School of Development Economics, National Institute of Development Administration (NIDA)

Asia-Pacific Development Journal, 2010, vol. 17, issue 1, 123-143

Abstract: The King of Thailand’s philosophy of sufficiency economy highlights a balanced way of living. Three principles—moderation, reasonableness, and self-immunity—along with the conditions of morality and knowledge can be applied to any level of the society—from an individual to a country. 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. The philosophy of sufficiency economy, as a new paradigm of development, aims at improving human well-being as a development goal. in the management of MPAs.

Keywords: Philosophy Sufficiency Economy; Development; Sustainable Development; Social Capital; Human Well-Being (search for similar items in EconPapers)
JEL-codes: O15 Q01 Q56 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:unt:jnapdj:v:17:y:2010:i:1:p:123-143

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