The Philosophy of Sufficiency Economy (PSE): Choice, Survival, and Happiness for All in the Time of Crisis
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Abstract
The problems of economic shrink caused the interruption in household incomes and consumption growth, while the coronavirus spread made unemployment rate and household debt risen which exacerbated the poverty situation. This study has specially aimed to honor His Majesty King Rama 9, as well as has overall aimed to explore the essences of the Philosophy Sufficiency Economy Philosophy (PSE) emphasizing the effects and benefits arising from the application of PSE and pointing out how the PSE becomes another choice of the people for their survival and gaining happiness. This is documentary research that employed the contents analysis method and cross-study synthesis for research result interpretation. Results showed that PSE is a particular approach for sustainable development aligned with the principles and objectives of SDGs; seeking to eradicate poverty and reduce inequality as a means to achieve sustainable development. The PSE has certainly close and strong bonding with various sectors such as entrepreneurs, Intellectual Properties Owner, community, local wisdom, and particularly green Innovation. Applications of PSE have significantly proven for poverty eradication and food security which can to lead to sustainable economic growth and sustainable consumption and production. The philosophy greatly attaches to human development at all levels particularly strengthening the community’s capacity to ensure a balanced way of life and resilience. Once people become realizing and recognizing the significances of PSE, therefore, when we live in any crisis, we should live with self-sufficiency, protection, and rationality, this is one another potential choice and a means of survival and a way of happiness for people at all levels.
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