Sustainable Economic Development - Essay Example

In which case, the citizens of Thailand were encouraged to accept trade-offs for the benefit of the majority and to avoid the dangers of succumbing to times like the busted economy in 1997 to 1998 when real GDP growth was at negative 6.1 (-6.1), and Real GDP growth per capita was at negative seven points one (-7.1) (Warr 5). This particular situation is exactly in contrast to the economic boom enjoyed in the previous years. But, almost everyone knew that was hugely brought about by foreign investment.

In other words, when the investors departed, they left carrying along with them their capital plus profit, busting the economy of its capitalizations. Thus, it can be rationalized that King's sufficiency economy theory is accurate. . According to the author, "Positive growth was achieved in all subsequent years to 2003 (Phase IV), but an average rate of only 3.3 percent (1999 to 2003)" (Warr 5). The virtues of King Bhumibol Adulyadej were of essence to the folks, business, and emergent economies (Hewison v).

Research Questions1. Did the participants understand the way with which Sufficiency Economy Philosophy is applied to their organization2? What is the present level of understanding among the different organizationsReferenceIsarangkun, Chiraya and Pootrakool, Kobsak?