Thailand's self-reliance economy, a fundamental legacy

The philosophy of the self-sufficiency economy in Thailand, conceived by the <a href="/en/%c2%a0%c2%bbhttps%3a//thai369.com/le-roi-de-thailande-rama-ix-sa-majeste-bhumibol-adulyadej/%c2%a0%c2%bb/" data-schema-attribute=" » »">King Bhumibol Adulyadej</a>is one of his most famous and lasting legacies.

It provides guidelines for sustainable growth and is a tool for building resilience to internal and external challenges.

Shortly after his ascension to the throne in 1946, the King launched several royal projects to promote self-reliant and sustainable agriculture to alleviate the plight of the rural poor.

But the concept of a self-reliance economy was first mentioned in the King's speech to students at a graduation ceremony at Kasetsart University on 18 July 1974.

The term 'sufficiency economy' was highlighted when the King addressed an audience of supporters on 4 December 1997 - on the eve of his 70th birthday - following a major economic crisis that hit Thailand and many other countries in the region.

Prior to the crisis, Thailand had adopted a broad development approach aimed at achieving high economic growth.

The country has vigorously pursued market and export-oriented policies to become a Newly Industrialised Country (NIC), following in the footsteps of Hong Kong, Singapore, South Korea and Taiwan, the 'Four Asian Tigers'.

In his speech, King Bhumibol Adulyadej said that it was not important for Thailand to become an economic tiger.

What is important is that the Thai people lead a life that provides them with enough to eat, so that they are able to support themselves financially.

"Being a tiger is not important. What is important is that we have a sufficiency economy. A sufficiency economy means having enough to support ourselves.he said.

He added that progressive economists might consider his idea of promoting a self-sufficient economy as obsolete because the country was already involved in the market economy.

But he argued that it was production to make local communities self-sufficient that would help bring Thailand out of the crisis.

People should first produce enough for their own consumption and then they could sell the rest, he said.

The King has continued to emphasise the importance of the concept of the sufficiency economy on many other occasions and this concept has since gained importance and is seen as an alternative development framework for the country.

Sumet Tantivejkul, secretary general of the Chaipattana Foundation, which promotes King Rama IX's principle of sustainable development, said the King's speech was a wake-up call for all parties concerned to rethink their thinking on economic development and pursue a more balanced and sustainable approach.

He said the philosophy was an approach to development based on moderation, reasoning and caution to create self-immunity.

"Sufficiency economy does not mean that one has to save or tighten one's belt all the time.

One can indulge in luxury from time to time as long as one spends within one's means.

A person should be moderate and not overspend," he said.

<img class=" »wp-image-21820" » src=" »https://thai369.com/wp-content/uploads/2020/12/Le-roi-Rama-IX-recolte-du-riiz.jpg »" alt=" "The" roi bhumibol adulyadej récolte le riz » width=" »305″" height=" »410″" /> His Majesty King Bhumibol Adulyadej harvests rice planted in a demonstration rice field in Prachin Buri in 2006. Photo: Somchai Poomlard

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Mr Sumet added that Thailand was fundamentally an agricultural country and that the country's economic progress therefore depended mainly on agricultural development.

Chartchai Na Chiangmai, a professor at the School of Human Resource Development at the National Institute of Development Administration (Nida), said that philosophy also required the application of specific knowledge and moral virtues.

According to him, the sufficiency economy is a "new theory" that offers guidelines for families and communities to be self-sufficient and self-reliant.

"The philosophy of the sufficiency economy also teaches us to be diligent and persevering.

It helps us to reach our full potential.

It gives us the means to face challenges and live happily," said Chartchai.

However, he said it was unfortunate that most Thais did not realise the importance of this philosophy, partly because they were mainly preoccupied with the struggle to make ends meet.

In this context, a large-scale management strategy is needed to push for the full implementation of the philosophy.

The state sector alone cannot do the job because of bureaucracy, he said.

Other actors in society also need to step in and act as intermediaries to link government agencies and local people to promote the concept, Chartchai said.

It is also important to encourage and support those who manage to achieve tangible results by practising the philosophy so that they can be a role model for others, he added.

On 26 May 2006, Kofi Annan, the then UN Secretary General, presented King Rama IX with the first UN Human Development Award in recognition of his sufficiency economy philosophy and his tireless work to help the poor and vulnerable.

He said: "Your Majesty's philosophy of the sufficiency economy - with its emphasis on moderation, responsible consumption and resilience to external shocks - is of great relevance to communities around the world in these times of rapid globalisation".

The United Nations has also declared 17 Sustainable Development Goals to be achieved by 2030.

It was agreed that the approach to development based on this philosophy was consistent with these objectives.