59-05-032 Proceeding

107 Proceedings of the Princess Maha Chakri Sirindhorn Congress well as the country’s administration at all levels including the national, provincial and community levels (Suwakitti, 2010). Through royal remarks on various occasions, His Majesty had graciously stressed on the more balanced development approach based on the principle of self-reliance over the past three decades. However, after Thailand had gone through the economic crisis in 1997 that partly due to the improper economic and social development process (Chaipattana Foundation, 2015), theThai government reconsidered and invited Sufficiency Economy as part of the country’s development guidelines (Sathirathai and Piboolsaravut, 2004). Sufficiency Economy requires three principles: moderation, reasonableness, and self- immunity; as well as two conditions: knowledge and morality. The first principle, moderation, entails the middle path between needs and over-spending (UNDP, 2006). Moderation means sufficiency at a level of not doing something too little or too much at the expense of oneself or others, for example, producing and consuming at a moderate level (Chaipattana Foundation, 2015). According to Dr. Sumet Tantivejkul, Secretary-General of the Chaipattana Foundation, the Foundation established by His Majesty with an aim to improve the people’s social welfare and capacity to become self-reliant, in order to define moderation or “something too little or too much” is difficult since an abstract term of moderation can hardly be measured. Dr. Tantivejkul, therefore, suggests that self assessment is necessary in defining moderation. The levels of people’s capability are different.The earn-a-living capabilities of individualsmay vary. Onemight be able to earn income more than another. Hence, the capability of one’s spending should not be equivalent. The second principle is reasonableness which signifies the relationship between the causes and effects. People are encouraged to be aware of the reasons and the methods of the actions (NESDB, 2006). In order to make decisions concerning the level of sufficiency, they must be done rationally. One should consider the factors involved and be cautious with outcomes derived from the actions. According to Dr. Tantivejkul, so as to achieve the second principle of reasonableness, one should also be reminded that following the trends without deliberating one’s capability might cause declines or damages. The last principle, self-immunity refers to the resilience and ability to cope with shocks or uncontrollable and unpredictable happenings. Therefore, one should be able to adjust to external change (UNDP, 2007). Dr. Tantivejkul also added that since the world is uncertain, in the western society, the risk management related education has been emerging in various universities and institutions in order to feed experts in this area to serve different industries and sectors.Whereas in Thailand, His Majesty has pointed out the importance of self-immunity or the western style of risk management for the Thai people to be prepared for changes by considering the future situations. The condition of knowledge represents the accumulation of information and a balance between the local wisdom and modern knowledge that one must be prudent to use the knowledge wisely. Moral condition encompasses the equality of opportunity for everyone that also includes integrity, trustworthiness, ethical behavior, honesty and perseverance (Suwankitti, 2010;