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The Philosophy of Sufficiency Economy: a contribution to the theory of development

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  • Prasopchoke Mongsawad

    (School of Development Economics, National Institute of Development Administration (NIDA))

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    Abstract

    The King of Thailand’s philosophy of sufficiency economy highlights a balanced way of living. Three principles—moderation, reasonableness, and self-immunity—along with the conditions of morality and knowledge can be applied to any level of the society—from an individual to a country. This article proposes that the philosophy of sufficiency economy conveys new theory in addressing current development challenges, which are issues of institutions, human capital, environmental sustainability and the role of government. The philosophy of sufficiency economy, as a new paradigm of development, aims at improving human well-being as a development goal. in the management of MPAs.

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    File URL: http://www.unescap.org/sites/default/files/apdj-17-1-5-Mongsawad.pdf
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    Bibliographic Info

    Article provided by United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in its journal Asia-Pacific Development Journal.

    Volume (Year): 17 (2010)
    Issue (Month): 1 (June)
    Pages: 123-143

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    Handle: RePEc:unt:jnapdj:v:17:y:2010:i:1:p:123-143

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    Keywords: Philosophy Sufficiency Economy; Development; Sustainable Development; Social Capital; Human Well-Being;

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    1. Bojo, Jan, 1996. "The costs of land degradation in Sub-Saharan Africa," Ecological Economics, Elsevier, vol. 16(2), pages 161-173, February.
    2. Krueger, Anne O, 1990. "Government Failures in Development," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 9-23, Summer.
    3. Sriya Iyer & Michael Kitson & Bernard Toh, 2005. "Social capital, economic growth and regional development," Regional Studies, Taylor & Francis Journals, vol. 39(8), pages 1015-1040.
    4. Paul F. Whiteley, 2000. "Economic Growth and Social Capital," Political Studies, Political Studies Association, vol. 48(3), pages 443-466, 06.
    5. Partha Dasgupta, 2005. "Economics of Social Capital," The Economic Record, The Economic Society of Australia, vol. 81(s1), pages S2-S21, 08.
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