Sufficiency Economy (theory)

The Sufficiency Economy theory, developed by Thailand’s King Bhumibol Adulyadej, emphasizes balanced and mindful development. It encourages people and nations to live within their means, practice moderation, and consider long-term sustainability over excessive greed or overreach. The approach advocates resilience through careful resource management, ethical decision-making, and social harmony. By fostering moderation, wisdom, and resilience, it aims to promote stable growth, reduce inequality, and improve quality of life, especially in the face of economic and environmental challenges. It’s about finding a sustainable middle ground between excess and deprivation for lasting well-being.