Sustainability

In what became known as a foundation speech for the idea of the sufficiency economy, in December 1997, the king said that what was important was not being a “tiger” but having “a sufficient economy” to take care of the whole population. The sufficiency economy places sustainability at the very core of its thinking, advancing a different approach from that of short-term, shareholder value-centred ideas of economic development. The take-up of this philosophy has also placed the country at the forefront of studies in sustainability, while also providing the world with some remarkable blueprints and success stories. This chapter contains a viewpoint from Kasem Watanachai, Privy Counsellor.