BUDDHIST ECONOMICS FOR SUSTAINABILITY DEVELOPMENT IN THAI SOCIETY

Abstract

The purpose of this article was to study the concept of Buddhist economics for sustainability development. Documentary study was used for the study and was presented in descriptive writing. Results indicated that economic development was the concept of original economic which showed the development under the demand more than supply. Therefore, the new concept of balanced economy for sufficiency called “Buddhist Economics” was presented by applying the middle way from Buddhist principle and the philosophy of sufficiency economy that was given by King Rama IX. These concepts have been encouraging and applying in practical way and to promote to be best practice. Sufficiency economy has been applied for sustainable development under the transformation of capital in macroeconomic that was appeared in Thai society of many previous years.