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POLITICS
Thai sufficiency stance seen as a wise economic plan for growth
WIRAJ SRIPONG
THE NATION

BANGKOK: -- THAILAND'S sufficiency economy could help contribute to sustainable economic growth and development with the key concepts of moderation and reasonableness, said panellists at a Bangkok symposium.

Sustainable Development: Lessons Learned" was held at the Sasin Graduate Institute of Business Administration at Chulalongkorn University.

"A sufficiency economy has something to do with moderation, reasonableness and built-in resilience in our way of consumption," said Poomjai Nacaskul, first senior vice president of Siam Commercial Bank.

Poomjai said moderation meant having a balanced way of consumption. Reasonableness, he added, was to realise the negative effect of excessive consumption.

By pursuing a sufficiency economy, consumers were protected and immunised from risks and temptations that might lead to over-consumption.

A business expert from France's Grenoble Ecole de Management, Patrick O'Sullivan, said a sufficiency economy was the wisdom of moderation that helped Thailand survive economic crises.

"It offers a wise antidote of how an economy should work," O'Sullivan remarked, adding that Western economies had a lot to learn from this concept.

An expert from the Thai Sustainable Development Foundation, Priyanut Dharmapiya, said integrating the concept into school curricula could help familiarise students with sustainable development at an early age, thus empowering them so they could make use of it effectively in the long run.

In related news, panellists at a forum on the implementation of the Unites Nations' sustainable development goals placed great emphasis on the role of a public-private partnership in that process.

In light of the upcoming adoption of the sustainable development goals by the UN General Assembly in September, former Dutch prime minister Jan Peter Balkenede told the forum that 2015 should be considered a year of inspiration. "The implementation of the sustainable development goals is a matter of honesty [in which the public and private sectors should take this opportunity to refresh international commitments on this issue]," Balkenede said.

To enhance the implementation of the sustainable development goals, the former Dutch premier suggested the public and private sectors should regularly report the progress of the process and adopt a more transparent benchmark to achieve a better outcome on this issue.

Source: http://www.nationmultimedia.com/politics/Thai-sufficiency-stance-seen-as-a-wise-economic-pl-30267272.html

-- The Nation 2015-08-24

[lostoday]

"I was brought up, like most Englishmen, to respect free trade not only as an economic doctrine which a rational and instructed person could not doubt but almost as a part of the moral law. I regarded departures from it as being at the same time an imbecility and an outrage. I thought England's unshakable free-trade convictions, maintained for nearly a hundred years, to be both the explanation before man and the justification before heaven of her economic supremacy. As lately as 1923 I was writing that free trade was based on fundamental truths 'which, stated with their due qualifications, no one can dispute who is capable of understanding the meaning of the words"

John Maynard Keynes

National Self-Sufficiency

(1933)

http://www.panarchy.org/keynes/national.1933.html

[arrowsdawdle]

OP - "Thai sufficiency stance seen as a wise economic plan for growth"

It is Sakdina all over again. The elites are exempt. Only those without money are subject to being happy with little or nothing. Are they supposed to recognize they have no money, no choice, and be happy about it?

[worgeordie]

With so many people up to their eyes in debt,they will

have no choice but to take the self sufficiency path,as

they will have no credit available to them,so will be forced

to cut back on spending,spending money they don't have.

Thailand is not exempt from the must have it,have it NOW,

even though they cannot afford it.

regards Worgeordie

[does]

I understand your scepticism, but the sufficiency economy model is more than being satisfied with less.

One of the best features of the model is that villages/regions are for a large part (75 percent?) self-sufficient in order to insulate themselves from national or global economic downturns.

If Detroit had implemented this model 25 years ago, the city could have been in better shape today.

OP - "Thai sufficiency stance seen as a wise economic plan for growth"

It is Sakdina all over again. The elites are exempt. Only those without money are subject to being happy with little or nothing. Are they supposed to recognize they have no money, no choice, and be happy about it?

[phoenixdoglover]

Pipe dreams and palliatives in a depressed economy.

I've got no problem with a philosophical or religious message encouraging people and groups to be self sufficient. This Thai sufficiency campaign is something else, elevated to some kind of national policy. It seems to me as just another excuse for government failure.

And the article confounds this with sustainability. I see these two concepts as decades apart. Thai sufficiency suggests an agrarian utopia, with vegetable plots and local manufacturing. There is nothing sustainable about that given the populations today. Sustainability is about a whole system of intelligent use, which makes high populations and a decent material standard viable in the long run.

[Srikcir]

For the last 14 months the Junta has failed to provide a SUSTAINABLE economy.

The remainder of 2015 is lost for any significant economic recovery.

Political unrest and economic uncertainty is likely to prevail in 2016.

If sufficiency economy has something to do reasonableness, Poomjai might do better to question the continuation of the Prayut regime to make economic decisions for the nation.

[Emster23]

I think Cambodia tried that model under Khmer Rouge. That didn't work out too well. India didn't really start becoming major player until it gave up that idea. Are farmers going to grow Iphones instead of rice? Going to grow Toyotas in ponds? Any of these people take econ 101, read any Adam Smith?

[lostoday]

I think Cambodia tried that model under Khmer Rouge. That didn't work out too well. India didn't really start becoming major player until it gave up that idea. Are farmers going to grow Iphones instead of rice? Going to grow Toyotas in ponds? Any of these people take econ 101, read any Adam Smith?

You hit the nail on the head that is the problem. If they do figure out a way to grow Toyota's in ponds it will work very well.

[billd766]

With so many people up to their eyes in debt,they will

have no choice but to take the self sufficiency path,as

they will have no credit available to them,so will be forced

to cut back on spending,spending money they don't have.

Thailand is not exempt from the must have it,have it NOW,

even though they cannot afford it.

regards Worgeordie

Or from Queen and Freddie Mercury

I want it all, and I want it NOW.

[Thai at Heart]

"I was brought up, like most Englishmen, to respect free trade not only as an economic doctrine which a rational and instructed person could not doubt but almost as a part of the moral law. I regarded departures from it as being at the same time an imbecility and an outrage. I thought England's unshakable free-trade convictions, maintained for nearly a hundred years, to be both the explanation before man and the justification before heaven of her economic supremacy. As lately as 1923 I was writing that free trade was based on fundamental truths 'which, stated with their due qualifications, no one can dispute who is capable of understanding the meaning of the words"

John Maynard Keynes

National Self-Sufficiency

(1933)

http://www.panarchy.org/keynes/national.1933.html

He obviously hadn't seen the light of being sufficiently versed in economics....

[Thai at Heart]

I understand your scepticism, but the sufficiency economy model is more than being satisfied with less.

One of the best features of the model is that villages/regions are for a large part (75 percent?) self-sufficient in order to insulate themselves from national or global economic downturns.

If Detroit had implemented this model 25 years ago, the city could have been in better shape today.

OP - "Thai sufficiency stance seen as a wise economic plan for growth"

It is Sakdina all over again. The elites are exempt. Only those without money are subject to being happy with little or nothing. Are they supposed to recognize they have no money, no choice, and be happy about it?

How does this insulate a village from a global change in commodity prices?

[lostoday]

"I was brought up, like most Englishmen, to respect free trade not only as an economic doctrine which a rational and instructed person could not doubt but almost as a part of the moral law. I regarded departures from it as being at the same time an imbecility and an outrage. I thought England's unshakable free-trade convictions, maintained for nearly a hundred years, to be both the explanation before man and the justification before heaven of her economic supremacy. As lately as 1923 I was writing that free trade was based on fundamental truths 'which, stated with their due qualifications, no one can dispute who is capable of understanding the meaning of the words"

John Maynard Keynes

National Self-Sufficiency

(1933)

http://www.panarchy.org/keynes/national.1933.html

He obviously hadn't seen the light of being sufficiently versed in economics....

Assuming you know who Keynes is and you are being sarcastic.

[bamnutsak]

#10 on Field Marshall Prayut's Twelve Values

10. Living by the sufficiency economy philosophy guided by His Majesty the King

Basically this means the masses should be happy with their lot in life. Any other methods of codifying this nebulous concept over the years have been random at best.

[fred Kubasa]

This " Thai sufficiency stance" would be more believable if quoted by OUTSIDE/FOREIGN financial experts.

[lostoday]

This " Thai sufficiency stance" would be more believable if quoted by OUTSIDE/FOREIGN financial experts.

John Maynard Keynes

National Self-Sufficiency

(1933)

http://www.panarchy....ional.1933.html

[h90]

#10 on Field Marshall Prayut's Twelve Values

10. Living by the sufficiency economy philosophy guided by His Majesty the King

Basically this means the masses should be happy with their lot in life. Any other methods of codifying this nebulous concept over the years have been random at best.

I recommend to educate yourself a bit more on it. It is more on optimizing all the resources you have without over extending and getting bankrupt or be slave of your debts.

[bamnutsak]

#10 on Field Marshall Prayut's Twelve Values

10. Living by the sufficiency economy philosophy guided by His Majesty the King

Basically this means the masses should be happy with their lot in life. Any other methods of codifying this nebulous concept over the years have been random at best.

I recommend to educate yourself a bit more on it. It is more on optimizing all the resources you have without over extending and getting bankrupt or be slave of your debts.

Quite well read on this "concept".

It really means whatever you want it to mean, today. There have been many, many, many explanations of this "Sufficiency Economy" (Thai version), and none are consistent, clear, concise, except to say that the serfs should be happy with having just enough to survive.

To quote, "...by assuring that the majority if our population has enough to live on."

The piffle about optimizing resources is your pipe dream.

Edited August 24, 2015 by bamnutsak

[lostoday]

#10 on Field Marshall Prayut's Twelve Values

10. Living by the sufficiency economy philosophy guided by His Majesty the King

Basically this means the masses should be happy with their lot in life. Any other methods of codifying this nebulous concept over the years have been random at best.

I recommend to educate yourself a bit more on it. It is more on optimizing all the resources you have without over extending and getting bankrupt or be slave of your debts.

I know quite a bit about it. An example would be selling rice produced in the town where it is produced rather than trucking it to the market and selling it far away from the place of production. Another example would be to produce everything required for a small town to exist in that small town. The major savings are in transportation costs (if you read it). The problem arises in a modern society a very small percent of things needed for living are produced locally. What worked in 1800 does not necessarily work in 2000.

[h90]

#10 on Field Marshall Prayut's Twelve Values

10. Living by the sufficiency economy philosophy guided by His Majesty the King

Basically this means the masses should be happy with their lot in life. Any other methods of codifying this nebulous concept over the years have been random at best.

I recommend to educate yourself a bit more on it. It is more on optimizing all the resources you have without over extending and getting bankrupt or be slave of your debts.

I know quite a bit about it. An example would be selling rice produced in the town where it is produced rather than trucking it to the market and selling it far away from the place of production. Another example would be to produce everything required for a small town to exist in that small town. The major savings are in transportation costs (if you read it). The problem arises in a modern society a very small percent of things needed for living are produced locally. What worked in 1800 does not necessarily work in 2000.

Sorry it seems you know little about it.....As an example: to clean the rice themself, cut out the middle man and the mills. Try to produce everything yourself. Like you have fish and ducks with your rice, eating the insects, which save money on the pesticides and no need to buy other food. So your profit is higher and everything you ear keeps in your pocket.

It does not prevent you from trucking the rice across the country, but it does encourage to do locally. It is a flexible guideline designed on sustainable, diversity and safety.

[h90]

#10 on Field Marshall Prayut's Twelve Values

10. Living by the sufficiency economy philosophy guided by His Majesty the King

Basically this means the masses should be happy with their lot in life. Any other methods of codifying this nebulous concept over the years have been random at best.

I recommend to educate yourself a bit more on it. It is more on optimizing all the resources you have without over extending and getting bankrupt or be slave of your debts.

Quite well read on this "concept".

It really means whatever you want it to mean, today. There have been many, many, many explanations of this "Sufficiency Economy" (Thai version), and none are consistent, clear, concise, except to say that the serfs should be happy with having just enough to survive.

To quote, "...by assuring that the majority if our population has enough to live on."

The piffle about optimizing resources is your pipe dream.

has enough to live on means, they don't need to make suicide like with Yinglucks rice scam where they ended with huge debts.

It is not an "get overnight rich" plan it is a sustainable safe way. Designed that small farmer Somchai has enough to live on and DOES NOT have to live as serf at some foxconn like factory.

[lostoday]

#10 on Field Marshall Prayut's Twelve Values

10. Living by the sufficiency economy philosophy guided by His Majesty the King

Basically this means the masses should be happy with their lot in life. Any other methods of codifying this nebulous concept over the years have been random at best.

I recommend to educate yourself a bit more on it. It is more on optimizing all the resources you have without over extending and getting bankrupt or be slave of your debts.

I know quite a bit about it. An example would be selling rice produced in the town where it is produced rather than trucking it to the market and selling it far away from the place of production. Another example would be to produce everything required for a small town to exist in that small town. The major savings are in transportation costs (if you read it). The problem arises in a modern society a very small percent of things needed for living are produced locally. What worked in 1800 does not necessarily work in 2000.

Sorry it seems you know little about it.....As an example: to clean the rice themself, cut out the middle man and the mills. Try to produce everything yourself. Like you have fish and ducks with your rice, eating the insects, which save money on the pesticides and no need to buy other food. So your profit is higher and everything you ear keeps in your pocket.

It does not prevent you from trucking the rice across the country, but it does encourage to do locally. It is a flexible guideline designed on sustainable, diversity and safety.

Sorry it seems you know even less about it. I said, it works for what you can do locally. Where it falls down is society has become very specialized producing almost everything by industry rather than local folks. Large industrial farms produce more, better and cheaper rice than an individual farmer could ever hope to do.

The nature of the beast is the majority of Thailand's agricultural resources will come to be owned by co ops or large industrial farm companies. Now 30% of Thais are employed in agriculture in 20 years that number will be 3%. Local production is a thing of the past.

Thailand best prepare for a time when all the farmers don't have farm jobs and all the farm land is owned by a few families.

If you don't see this coming you have your eyes closed.

[NCFC]

Try building an airplane in a third-world village. Or a car, a motorbike even. Try supply sufficient 24/7 electricity from a village fishpond, or fuel to run the tractor. It' the market economy tthat gives us farang the chance to live in Thailand

[cmsally]

I guess with sufficiency economy they will have to scrap the 7/11 s as they have overpriced crap mostly, but somehow I can't see that happening.

[Briggsy]

This idea seems based in paternalism. The thinking is the masses do not possess the self-discipline and intelligence to avoid falling prey to permanent indebtedness and the evils of consumerism.

However the philosophy neatly skips around three very basic concepts of economics that allowed societies all around the world to develop and provide far healthier, longer, happier lives with far less suffering for its peoples.

The Economies of Scale.

The Division of Labour.

Access to Capital.

All developing countries, including Thailand, have far better outcomes by focusing on enforcement of the rule of law, working for a far more equitable society and leadership that demonstrates moral courage.

Moral diktat from a deeply corrupt ruling class will always fail.

[bamnutsak]

This idea seems based in paternalism.

Well, father knows best.

[Prbkk]

The agenda of the elite: limit opportunity, stifle aspiration, restrict access to education and, above all, maintain the skewed staus quo.

[Solomon]

One day, most likely in the distant future, all topics will be able to be discussed freely and openly in Thailand without the threat of 15 years in jail should one find themselves advocating a position at odds with the powers that be.