The philosophy of ?Sufficiency Economy,? initiated by His Majesty King Bhumibol Adulyadej of Thailand, blends very well with Buddhist principles.

In his guest lecture at the Third International Buddhist Conference on the United Nations Day of Vesak on May 9, Mr. Suphachai Chearavanont, Chairman of True Company of Thailand, said that Sufficiency Economy begins with moderation and then reasonableness, which reflect the ?Middle Way? in Buddhism.

The Rector of Mahachulalongkornrajavidyalaya University, the Most Venerable Professor Phra Dharmakosajarn, summarized the guest lecture by Mr. Suphachai to the press.

Mr. Suphachai explained that ?economy? in general terms focuses on productivity and Gross Domestic Product, or GDP. But the Sufficiency Economy concept looks at other dimensions as well, such as cultural and spiritual aspects.

In a holistic view, he said, economy is a matter of ?value,? which involves happiness, culture, spirituality, and religion, thus leading to sustainable development.

Phra Dharmakosajarn said that the philosophy of Sufficiency Economy was discussed at a group workshop on May 9. In the discussion, participants learned more about His Majesty?s royally initiated projects to help ease Thailand?s economic crisis.