Philosophy of Sufficiency Economy

Abstract

This academic article aims to study the philosophy of sufficiency economy. The study found that the development and administration of the country should be carried out in a moderate way, especially in developing the economy in order to keep up with the globalization world. Sufficiency according to His Majesty's Sufficiency Economy Philosophy means moderation, reasonableness, and the need for good self-immunity which must be moderate to any impact arising from both external and internal changes. This requires great knowledge, carefulness and caution in the application of various fields of study. At the same time, the mental base of the people in the nation and society must be strengthened to have a sense of virtue, honesty, and appropriate knowledge. Living with patience, perseverance, mindfulness, wisdom and prudence in order to balance and be ready to accommodate rapid and widespread changes both in material, social, environmental and cultural aspects.