SUFFiciENcy EcONOMy ANd GRASSROOtS DEvElOPMENt

The Meaning of Sufficiency Economy
International Conference
159
Grassroots Development and Sufficiency Economy
It is generally agreed that today we find ourselves in the midst of a worldwide
economic crisis. Some will argue that the breadth of this crisis includes not only
private and public financial crises but that it is exacerbated by crises in government,
the environment, and the depletion of natural resources.
I believe that the root of these problems is much deeper and more basic.
Neoclassical (orthodox) economics
The neoclassical interpretation of economics has shaped the world as we know
it. This model sees the economy as a play of production and consumption, supply
and demand, and profit and loss. It defines value in terms of monetary wealth and
development as technological and economic. There is no consideration of needs as
compared to wants and no value in the development of human spirituality, culture, or
happiness. There is no balance in this model: bigger is better, more is better,
technology rules. The result is an economic model in which success is dependent on
constant growth. It is a view of life that is so ingrained that no one even questions
the logic of it. If we live in a finite system like our world, how can we believe that
economics can be working properly only if there is constant growth? How can we
believe that the value of a person is in how much they make and how much they
accumulate? Youth and physical beauty are of more value than wisdom and physical
and mental health. The length of life is more important than the quality of life and
the individual is prized over the community.
Development
In this system, development has become a goal rather than a path. The culture
systematically converts wants into needs – you can suddenly NEED a product that
didn’t exist six months ago. The value of countries is measured by their position on
the economic development path: developed nations, developing nations,
underdeveloped nations.