BCG economy model with Well-being and Happiness Index

Abstract

This article delves into the economic model of the BCG (Bioeconomy, Circular economy, Green Economy) within the framework of Critical Theory, primarily focusing on the policy voids that persist in the unarticulated aspects of the operative plan. The model is formulated as a policy instrument geared towards the equitable redistribution of income, opportunities, and inclusive economic growth. Furthermore, it is a public policy that holds the potential to authentically confer happiness and sustainability upon the people. The objectives of this paper are as follows: (1) To study the documents entitled “The Action Plan for Driving Thailand Development with the BCG Economy Model 2021 – 2027” and information published on the website: www.bcg.in.th which is the main digital communication channel. (2) To study and compare the continuity of the BCG economy model (2021-2027) and the Yu Yen Pen Suk Index (Thailand Happiness and Well-Being Index).

From the study, it was found that although the document states that it is an action plan for driving the BCG economic model, there are still only details at the policy level. The action plan has not yet been detailed. When considering the consistency of the BCG economic model with the Yu Yen Pen Suk Index There is consistency in domain no.4 (a strong and fair economy), the third domain (strong community) and the fifth domain (a good environment and a balanced ecosystem) only. The dimension of social structural reform is missing. Whether it is domain no.1 (well-being) even though there is a strategic branch 2 in health and medicine. Which is the only relate to the physical health. It has missing to do with mental health, morality, ethics, intellectual development, and the pursuit of knowledge. The domain no.2 (being a warm family) and domain no.6 (democratic society with good governance) that miss from policy and operating documents.