Economic thinking is an idea, proposition, or opinion that a group of people reflects on economic issues or policies, etc. Economic thinking is also a principled opinion expressed by people on the economy. First, This article makes a research on the theoretical basis of the people's livelihood economic thought. The author discusses the basis of his argument from three aspects: altruistic economicism, ethical roots of human nature and economic life philosophy. Second, the author discusses the development and evolution of livelihood economic thought Third, the author provides a discussion on the debate about the livelihood economic system proposed by scholars Finally, the author draws a conclusion on the development of contemporary Taiwan after Tsai Ing-wen's administration in 2016. The author expects to be able to find out the value of the livelihood economic thinking and find out the contemporary development problems of Taiwan.