## Sufficiency is not an old way of life but a survival strategy in this era

If asked Thais what "Sufficiency Economy" means, the answer often circles around like reciting a rural folk tale. But in reality, it’s not a silly concept as you might think. It’s a deeper financial philosophy related to speculation, risk management, and even modern business planning.

## Sufficiency Economy means being able to survive—doing this

In its true meaning, Sufficiency Economy is about living flexibly on a foundation of fully utilizing available resources. It’s not about greedlessness but about choosing to be greedy wisely. That is, every individual—from households, communities, to entire nations—must "stand on their own" using reason, without complaints, and with plans to handle unforeseen events.

A proper sufficiency-based lifestyle must be built on three pillars: moderation (not overextending oneself), reasonableness (investing with purpose), and immunity system (always having a backup), combined with two qualities: knowledge (continuous learning) and morality (honest and fair).

## From the Royal Decree to a survival method in times of crisis

The origin of the Sufficiency Economy dates back to 1974, when Thailand was still undergoing economic development with many large investment plans, mostly financed by foreign loans. The result was genuine economic growth but with many risks. The 1997 Asian financial crisis was a turning point, and at that time, the "Sufficiency" principle emerged as a true guiding light.

Not long after the crisis erupted, the core ideas of the Sufficiency Economy spread rapidly throughout Thailand and abroad. Many realized that this principle aligns with the United Nations' Sustainable Development Goals (SDGs), which emphasize sustainable development. In 2006, the UN also recognized "Sufficiency Economy" as an excellent philosophy and named it "Developer King."

## In practice, what does a Sufficiency Economy look like?

###In Business and Commerce

For business owners, applying the Sufficiency Economy means:

- Choosing technology that is cost-effective, high-quality, and not overly large
- Balancing production size with management capacity—avoid overexpansion
- Diversifying risks and ensuring long-term profits, rather than harvesting from the first year
- Maintaining honesty—no deception of customers, workers, or suppliers
- Using local raw materials, selling to urban consumers, but main operations in regional areas

###In Agriculture

Farmers practicing Sufficiency Economy typically do this:

**Diverse farming** - not just rice, but also vegetables, raising animals, digging ponds. Even if one crop fails, food remains, and income is maintained.

**Basic new theory** - dividing land into 4 parts in the ratio 30:30:30:10 (rice, fish, vegetables, livestock), creating balance and avoiding loans for off-season income.

**Advanced new theory** - farmers form groups to sell products directly, avoiding middlemen who suppress prices, ensuring stability for themselves and their families.

**Community-level new theory** - establishing cooperatives, creating funds, exchanging knowledge—one community can become an economic hub.

## Deepening into 3 concerns and 2 conditions of the Sufficiency Economy

**Moderation** is about spending within one’s income, not borrowing to spend. The key point is balance—no overreach.

**Reasonableness** - before acting, think carefully, plan thoroughly, and resist emotional decisions.

**Immunity system** - have contingency plans; don’t panic when the economy, markets, or situations change.

Adding two more conditions:

**Knowledge** - continuous learning from books, experts, or others’ experiences. Knowledge is a shield against crises.

**Morality** - honesty, diligence, perseverance—this builds trust, making the business sustainable.

## Applying in our daily lives

If you want to adopt the Sufficiency Economy for yourself, do this:

- Choose an honest profession that keeps your mind at peace and helps you sleep well
- Work to maintain balance—avoid stress, headaches, overindulgence in entertainment, or wasting time
- Earn income ethically—don’t exploit others
- Save according to a plan—avoid impulsive spending
- Spend money appropriately—no shame, no waste, balanced and reasonable
- Before investing, study thoroughly—don’t follow others blindly

## In conclusion

The Sufficiency Economy is not a lifestyle of perpetual simplicity but a universal philosophy applicable to everyone—from farmers and small entrepreneurs to large corporations, banks, or international trade and investment. All it requires is remembering that "sufficiency" does not mean "nothing," but "having enough." And once you have enough, suffering and hardship will begin to fade away.