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Published on September 10, 2007

"The findings reflect the need for the elite members to act as role models in applying the sufficiency economy philosophy to their life, if the philosophy is to be integrated into society," Noppadon Kannika, who heads ABAC's social innovation in management and business analysis unit, said yesterday.

He said the findings also showed that people should be taught that the philosophy could be adapted to best suit an individual's or family's financial status.

"It's not that all people must live in the same way," Noppadon said.

Conducted between August 25 and September 8, the survey covered 1,461 respondents in Bangkok and its adjacent provinces.

According to the survey, 93.9 per cent of respondents had heard about the sufficiency economy. At the mention of this philosophy, they thought about savings, modesty, debt-free lives, livelihood and life security.

When asked about their income and expenses during the past six months, 50.4 per cent of the respondents said they earned enough to cover their expenses but could not save at all money for the future. About 18.2 per cent said they did not earn enough for their lives.

Only 31.4 per cent said they made enough money to have savings.

As many as 36.4 per cent of the respondents believed reckless spending threw Thais into financial crisis. However, 20.3 per cent felt the problem lay with the increasing cost of living, including higher petrol and consumer-product prices, while their income remained the same. About 11 per cent blamed political and social divisions, while 17.7 per cent blamed the lack of social, political and economic stability.