SUFFICIENCY ECONOMY PHILOSOPHY FOLLOWING THE BUDDHIST APPROACH

Abstract

The aim of this article is to propose sufficiency economy philosophy following the Buddhist approach according to new theory. The mentioned economy is based on moderate living, consumption and utilization through the middle path lifestyle. It is a balance between human life and all surrounding things. The first priority of sufficiency is to have a right livelihood and then develop for a good living. Sufficiency economy is a philosophy or concept with the principle and ideology that helps human and society move towards sustainability through self-acknowledgement, self-reliance, self-sufficiency, reasonability, non-greed and non-negligence. It is a practical guidance of new agricultural approach for communities that leads to sustainable economic development. It is a development guideline depending on the Buddhist middle path approach with crucial elements of seclusion, honesty, patience, tolerance, intellectuality and non-negligence. All these factors lead to the goal i.e. sustainable agricultural development.