King’s Philosophy in Practice: A Buddhist Approach to Sustainable Economics
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Abstract
This article examines Thailand’s Sufficiency Economy Philosophy (SEP) as a culturally rooted framework for sustainable development, integrating the King’s “Science of the Land” Philosophy with the principles of Buddhist economics. SEP, grounded in moderation, reasonableness, and self-immunity, reflects the Buddhist Middle Way, right livelihood, and ethical governance. Emerging from His Majesty King Bhumibol Adulyadej’s extensive development work, SEP gained prominence during the 1997 financial crisis as a values-driven alternative to growth-at-all-costs models.
Through historical analysis and case studies, the article illustrates how SEP has been applied across governance, corporate responsibility, and community initiatives. Integrated agricultural systems, community water management, and grassroots social capital projects demonstrate how alobha (non-greed), adosa (non-hatred), and karuṇā (compassion) can be operationalized to achieve balanced economic, social, and environmental outcomes.
Findings reveal that SEP strengthens resilience by encouraging informed decision-making, prudent resource use, and ethical business practices while fostering individual and collective well-being. This hybrid model aligns material progress with spiritual values, mitigating systemic risks and enhancing adaptability to global economic and environmental changes.
The study concludes that embedding the King’s “Science of the Land” Philosophy into national strategies, climate action plans, and financial systems offers a replicable pathway for other nations seeking holistic development. By harmonizing economic activity with moral integrity and ecological stewardship, SEP exemplifies how Buddhist economic principles can guide policy and practice toward long-term resilience, social equity, and environmental sustainability.
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