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Sufficiency Economy as Life Guidance

17 February 2015 (Readers 1672)
As prices of various products have increased, affecting consumers, Prime Minister Prayut Chan-o-cha said that he had instructed the Ministry of Commerce to look into the issue. The Prime Minister has also urged people to apply the Sufficiency Economy philosophy of His Majesty the King in leading their lives.

In his national address on 13 February 2015, the Prime Minister said that people should know what to consume and know what is affordable. They should use their money wisely and reasonably.

"I would like people to be selective in consumption. If you have less, spend less, and if you have more, you may spend more, he said.

Concerning the Sufficiency Economy philosophy, the book The Philosophy of Sufficiency Economy: The Greatest Gift from the King, published by the Office of the Royal Development Projects Board, says that for individuals, sufficiency economy can be applied as a guideline for daily conduct, because it is a philosophy that promotes the principle of moderation, or the Middle Path.

Wise guidance for leading ones life may include, for example, reducing expenses in all areas and avoiding extravagant spending, pursuing ones occupation with honesty, seeking ways to ease suffering by gaining more knowledge in order to earn more income, and following a moral path and avoiding vices.

A person should not be uselessly extravagant and should not be materialistic. One should lead a life depending on ones own resources or status and should not be exposed to any risks, such as incurring debts, in the hope of becoming rich in the short term, or investing in gambling or similar activities, which may result in bankruptcy. Instead, one should value the principles of "knowing, cherishing, and uniting and use intelligence to protect oneself from extreme indulgence in the tide of globalization. People should be capable of distinguishing good deeds from bad deeds, sharing love and generosity, and assisting one another.

Sufficiency Economy does not mean that one has to be overly stingy. A person can lead a luxurious life once in a while, provided that it is within his or her capacity to do so or within the limit of the existing income or resources in the first place.

His Majesty the King once said, "Sufficiency Economy is like the foundation of life that sustains a countrys stability. It is comparable to piles driven into the ground to support the house. A building's stability depends on its foundation. However, most people cannot see the piles, and even forget them."

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