## What is Sufficiency Economy? Understanding the Thai Philosophy that Transformed the Economy
**The meaning of sufficiency economy** may seem like a long and abstract phrase to many, but in reality, it is about living a balanced life. Not overburdening oneself, and not causing hardship to others. This framework was established by His Majesty King Bhumibol Adulyadej in 1974 to enable all levels of society to be self-reliant by using resources wisely.
### Why "Sufficiency" and not "Abundance"?
Prior to that, Thailand was in an era focused on rapid development, aiming to become an industrialized
View Original**The meaning of sufficiency economy** may seem like a long and abstract phrase to many, but in reality, it is about living a balanced life. Not overburdening oneself, and not causing hardship to others. This framework was established by His Majesty King Bhumibol Adulyadej in 1974 to enable all levels of society to be self-reliant by using resources wisely.
### Why "Sufficiency" and not "Abundance"?
Prior to that, Thailand was in an era focused on rapid development, aiming to become an industrialized