The Sufficiency Economy Philosophy (SEP) is a fundamental principle developed by His Majesty the Late King Bhumibol Adulyadej in the 1970s based on the foundational traits of moderation, reasonableness, and prudence, adding knowledge and virtue as guidelines for living. This philosophy is an approach to sustainable development that promotes utilizing knowledge and virtue to create a sense of moderation, reasonableness, and prudence. It stresses the middle path as the overriding principle for appropriate conduct and way of life for the entire populace.