American Journal of Humanities and Social Sciences Research (AJHSSR)
2018
American Journal of Humanities and Social Sciences Research (AJHSSR) e-ISSN : 2378-703X Volume-02, Issue-05, pp-70-73 www.ajhssr.com
Research Paper
Open Access
Understanding SEP and Applying to Self Development Matsorn Kitbumrung1 1
(Graduate School, Dusit Thani College, Thailand) Corresponding author: Matsorn Kitbumrung
ABSTRACT: The SEP emphasizes on a life of living meaningfully and honestly, promoting resilience and sustainability. It suggest a holistic model for personal and public life based on prudence, reasonableness and moderation, conditioned by principles of virtue and knowledge. Sustainable development needs a society to rebuild an understanding on society development goals. These includes the seventeen sustainability development goals. SEP serves as a set of indicators unique when it comes to leading to sustainable development and culture. Using the SEP, individuals, organizations and the society can be able to achieve immunity to materialism and environmental/social and cultural changes, to balance as well as address key challenges resulting from extensive and changes throughout the world.
Keywords: Sufficient economy philosophy, sustainability development goals, moderation, reasonableness and prudence
I.
INTRODUCTION
It is goal of every country to grow socially and economically. In regard to this, different countries have set their goals and timeline within which the specific objectives are expected to be achieved. In Thailand when the king took the throne, the country was a rural and largely relied on agriculture, and had per capital GDP of $200. The involvement of the United States military in the neighboring Indochina, had a key impact on structure of Thailand economy in 1950s, 1960s and 1970s. They spur the growth of gross domestic product largely of the agricultural products. During the time, the king gave much attention to agriculture industry, visiting different parts of the countries and initiating development projects. The firsthand experience on the challenges experienced by the rural dwellers become a subject of meditation on his part translating into a series of public statements, lecturers and intervention on the practical implications for economic development[1]. In attainment of sustainable development the sufficiency, Economy, philosophy (SEP) concept has been viewed as a guideline. The SEP emphasizes on a life of living meaningfully and honestly, promoting resilience and sustainability [2]. It suggest a holistic model for personal and public life based on prudence, reasonableness and moderation, conditioned by principles of virtue and knowledge. Applying these principles creates room for integrated understanding of a situation and requisite policies for development, implemented for perseverance, altruism, wisdom and honesty. This paper seeks to understand SEP and how it is applied in self-development.
II.
THE CONCEPT OF SUFFICIENT ECONOMY PHILOSOPHY
Sufficient economy philosophy is described using five key terms including moderation, self- immunity, reasonableness, moral honesty and knowledge. Stressing on the overriding principle for appropriate conduct at various levels of the society, it has three foundation pillars. This includes corporate governance which involves consideration of the interest of stakeholders in decision making process; sustainability which refers to business growth by efficiently utilizing the available resources; and risk management which involves alleviating economic, business and social risks. SEP is all about modesty which is not too much or little, rationally accessing the level of sufficiency [4]. Fig. 1
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