Sufficiency Economy Philosophy organization Essay

Sufficiency Economy Philosophy organization - Essay Example It is now familiarly known as sufficiency economy principles. Sufficiency Economy principles that was promulgated and implemented by the King of Thailand is largely grounded on the principles of Buddhism which is likewise the major religion in the region (SufficiencyEconomy.org 2006; Leekpai 4). This ideology together with the commonly observed persistence of poverty generated a more fitted strategy of addressing such dilemma. Sufficiency economy as a long-term shot for a sustainable program is more like making choices in the midst of scarcity (Parkin 12). In which case, the citizens of Thailand were encouraged to accept trade-offs for the benefit of the majority, and to avoid the dangers of succumbing to times like the busted economy in 1997 to 1998 when real GDP growth was at negative 6.1 (-6.1), and Real GDP growth per capita was at negative seven point one (-7.1) (Warr 5). This particular situation is exactly in contrast to the economic boom enjoyed in the previous years. But, almost everyone knew that was hugely brought about by foreign i nvestment. In other words, when the investors departed, they left carrying along with them their capital plus profit, busting the economy of its capitalizations. Thus, it can be rationalized that the King's sufficiency economy theory is accurate. ... According to the author,"Positive growth was achieved in all subsequent years to 2003 (Phase IV), but an average rate of only 3.3 percent (1999 to 2003)" (Warr 5). The virtues of King Bhumibol Adulyadej's were of essence to the folks, business and emergent economies (Hewison v). It rest upon the conventional virtues of Buddhism's modest ways of living that emphasized the attitude of self-controlled expenditures, logical demeanor in living, self-preservation, and knowledge and righteousness, which lead to contentment, astuteness, serenity, and paradise. Research Questions 1. Did the participants understand the way with which Sufficiency Economy Philosophy is applied to their organization 2. What is the present level of understanding among the different organizations Reference Isarangkun, Chiraya and Pootrakool, Kobsak. Sustainable Economic Development Through The Sufficiency Economy Philosophy. http://www.sufficiencyeconomy.org/en/files/3.pdf rets: 8/5/08. Hewison, Kevin. "Thailand Human Development Report. Sufficiency Economy and Human Development." Journal of Contemporary Asia 38.1 (2008): 212+. Questia. 5 Aug. 2008 . Leekpai, Chua. "A Better Future Together." Presidents & Prime Ministers Jan. 2000: 4. Questia. 5 Aug. 2008 . Parkin, Michael. Microeconomics. 4th ed. England:Addison-Wesley. 1998. Walker, Andrew. "The Rural Constitution and the Everyday Politics of Elections in Northern Thailand." Journal of Contemporary Asia 38.1 (2008): 84+. Questia. 5 Aug. 2008 . Warr, Peter, ed. Thailand beyond the Crisis. London: Routledge, 2004. Questia. 5 Aug. 2008