Example 5

Source: http://www.pantip.com/cafe/library/topic/K7588223/K7588223.html#3

Original
Application of Self Sufficiency Philosophy
The US subprime crisis is an ongoing economic problem that becomes more apparent during 2007 and 2008, and it is effecting on many financial institutions all over the world, including Thailand. However, it still has many solutions. One is the self sufficiency philosophy. The self sufficiency philosophy is a philosophy that stresses the middle path as an overriding principle for appropriate conduct by the populace at all levels. The self sufficiency philosophy can applied to individual and household, business, and economic policy to solve the economic crisis in Thailand.

The first and important solution for the economic crisis is the individual and household application of the self sufficiency philosophy. You have to decide reasonably in investment and consumption. For example, you have to do financial planning e.g. save money in the bank or think before buying something, do not borrow for no good reasons, and limit your unnecessary luxurious consumption. It will help you not to be in debt.

The second is the business application of the self sufficiency philosophy. If you have the business, you have to manage the risk in your business. Investment in any businesses have a risk, so the investor should study be fore invest, it will decrease the unnecessary risk. Moreover, you have to be responsible to the society. From one concept of the self sufficiency philosophy---One must stop selfish competition and the habit of taking advantage of others---following the Royal speech:
"...The meaning of genuine happiness derived from one's fair conduct, both of intention and action, and not from coincidence or taking advantage of others..."

The third is the economic policy application of the self sufficiency philosophy. The government has to be fair in distribution by strengthening impoverished rural communities. Focus on grassroot economy by adjusts the balance of economic development framework, emphasis on public well-being.

In conclusion, these self sufficiency philosophy applications: individual and household application, business application, and economic application are the solutions to solve the economic crisis in Thailand. The application of the philosophy is not limited to the national level. The philosophy is applicable to people from all walk of life and at all levels.

แก้ให้
Application of Self-Sufficiency Philosophy to Thai Economy
The US subprime crisis is a tacit yet ongoing economic problem that became more apparent during 2007 and 2008. It has affected many financial institutions all over the world, including Thailand. However, in my opinion, it could have been prevented or lessened by practicing self-sufficiency philosophy. Self-sufficiency philosophy stresses the maintaining of the middle path. It is an overriding principle for appropriate conducts. This philosophy could be applied to the following 3 sectors: individuals and households, businesses, and economic policies to recoup Thai economy.

As individuals, households could uphold self-sufficiency philosophy in practice as a solution in times of current economic crisis. This could be manifested through the way we reasonably and sensibly invest and consume. For example, besides prudent financial planning such as saving money in the banks or thinking conscientiously before buying something, we should not borrow without good reasons. In this way, we could limit ourselves from unnecessary luxurious consumption. It is a good way of avoiding debts.

Secondly, the application of the self-sufficiency philosophy is also relevant to business settings. To manage related risks in businesses, investor should carefully examine investment options to reduce unnecessary threats. Despite tough competition, businesses have to be responsible to the society. This is inline with one concept of the self-sufficiency philosophy which states that ‘one must stop selfish competition and the habit of taking advantage of others’. Likewise, it follows one of His Majesty the King’s speeches:
"...The meaning of genuine happiness derived from one's fair conduct, both of intention and action, and not from coincidence or taking advantage of others..."

Lastly, to apply self-sufficiency philosophy in the implementations of sound economic policies, the government must be precautious. It should be compassionate in wealth distribution, especially aimed at strengthening the impoverished rural communities. The government could focus on the grassroots groups and give more weights to economic and public welfare development.

In conclusion, self-sufficiency philosophy concept could be suitably applied to the individuals and households, businesses and economic policies to lessen the impact of economic crisis in Thailand. The relevance of this philosophy is not limited to the national level, but is applicable to people from all walks of life and at all levels.