Equitable Economics
For a brief period during the pandemic I majored in economics, learning all about the western philosophies around distribution of resources, supply and demand, and the assumption of scarcity. Those studies made me feel…depressed.
The assumption of scarcity creates a foundation that is perfect for an exploitative and competitive economy. If there are scarce resources, then we have to find a way to get our share of a limited pie, no matter what damage it causes others or the ecosystem.
I believe economics instead should revolve around the assumption of abundance. If we can regenerate a resource, then we should use that resource and its system of regeneration to have more than enough to go around while living harmoniously with nature and others.
A scarcity-based economy creates a dog-eat-dog kind of world where hierarchies and shame-based oppressive systems benefit some while disempowering many. Observing late-stage capitalism, we see rampant exploitation and environmental degradation benefitting 1% of the population while harming and destroying the global majority and our planet, respectively.
As I have stayed in Thailand, I’ve noticed the kindness and generosity the people here have. They seem to understand that there is always enough to go around, and if someone needs something, they help first and ask questions later. Many people here in Southern Thailand own farm land and use it as an economic engine, providing them income and/or food.
Apparently, the ninth king of Thailand created an amazing economic plan for his citizens called a Sufficiency Economy or เศรษฐกิจพอเพียง (Setthakit Phophiang) that outlines a step by step strategy for immunity to fluctuating markets and general changes. It centers sustainability and tenets of Buddhism such as moderation, wisdom, knowledge and morality.
The King’s plan suggests:
That people protect the environment and conserve scarce resources.
That they utilize their land for self-sufficiency and sell excess for money.
That the rich and poor consume responsibly without incurring debt.
That their land be divided into 30% water reservoir, 30% rice field, 30% mixed crop field and 10% settlement.
That communities collaborate collectively in farming, welfare, education, and religious/cultural rituals.
That they use the excess recourses they generate to sell to make money for investing and growing wealth for increased well-being individually and collectively.
This way, the citizens would not be dependent on money to have what they need, they would not compete with one another and thus cause individualism and conflict, the natural habitats of Thailand would be preserved through permaculture (regenerative agriculture) and they could still take advantage of the greater economy without being dependent on it.
Independence and self-sufficiency allows for greater sovereignty, agency, and freedom. If people and their communities have what they need on their own, they are less easy to control or influence. They can have their own power, rituals, practices, ideas, etc. and make their own choices knowing they will have what they need regardless. Perhaps this is why governments and corporations prefer people to be dependent on money and on them so they can control and disempower people, turning them into labor and money machines to profit off of and coerce.
Having grown up in the grim reality of American capitalism, reading the late Thai king’s plan made me very happy. I believe it is important for communities to be harmonious and connected, to support each other and their environment and to engage in regenerative systems so they always have what they need no matter what. It’s the exact opposite in the United States right now.
We are all being exploited and competing for scarce resources which are obtained destructively, and the global majority does not have its basic needs met while 1% of the global population has more than it would ever need. Absolute power corrupts absolutely and we know that the most just and good societies are those that distribute power and resources equitably.
If we want to change the system, we must learn how to become independent and self-sufficient so we can opt out of the systems that are degenerative and exploitative. If more and more of us take actions similar to the great Thai king’s plan, we may be able to create an abundance-based economy.
I hope the world can transition soon to an economy more like the ninth king of Thailand imagined so that we can see more equity, harmony and well-being for this planet and its inhabitants.
