On my first day of Economics A Level, I was given a case study on “Bhutan and GNH”. I was
perplexed how Bhutan, a country in the UN’s LDC list, ranked 8th in satisfaction across the
world in 2005. How did it rank higher in joy than leading economies like the US and UK? This
made me question the relationship between GDP and happiness, and what are the factors that
determine these?
By reading Meghnad Desai’s “The Poverty of Political Economy: How Economies Abandoned
the Poor”, I was introduced to the economic theories of Smith, Riccardo, Malthus and more.
Desai’s argument for a focus on human lives in political economy was compelling. His
introduction of a Pigouvian social welfare measure created a mathematical basis for the
principle, and it taught me how to quantify the intangible. However, it left me wondering how
political events affect this model, and what consequences decisions such as Brexit may have on
the relationship of GDP and GNH.
This led me to attend the Marshall Conference in 2023, where I found Dr Michael Kitson’s
lecture on “Global Crises and Megatrends” gripping. It increased my awareness on current
issues such as deglobalisation, protectionism and inequality, which present problems to both
GDP and social welfare. Kitson dispelled Carlye’s description of economics as the “dismal
science”, as I grasped how economics can affect major policies and political stances.
Entering the John Locke Institute Essay Competition, where the question “What would happen if
we banned billionaires?”, forced me to think about the hypothetical impacts a policy like this
would cause. Researching wealth distribution led me to free market philosophy, which I
disagreed with. Although people may have amassed their money in a just method, tax is
necessary, especially to maximise the marriage of growth and happiness. This fostered my
interest in the philosophy and deeper thinking behind economics.
Thus, I enrolled in the Harvard Course “Justice” led by Michael Sandel. I was alarmed how
principles of theories like Libertarianism can be taken to the extreme, for example Canada’s
MAID program. It seems morally wrong how it has been suggested to use the law to reduce
costs on the Canadian Health care system. This led me to read Sandal’s “What Money Can’t
Buy: The Moral Limits of Markets”, and I agreed with him, cost had gone too far and invaded our
innermost parts of life, especially with cases such as MAID.
At a work placement at MUFG, I learnt how economic models, based on the theories Desai
introduced to me, are used to predict crises. Doing A Level Further Maths helped me
understand the basics of the models used, and how quantitative figures have been used to
reduce risk to banks. I also learnt how politics has shaped MUFGs policies, with the Russian
Invasion affecting the firm’s investments. Another work experience at Capgemini gave me the
opportunity to be part of a sustainable solutions team, where we created an app to help raise
awareness about climate change. This helped me take a practical approach towards the issue
and gauge public opinion on the crisis.
perplexed how Bhutan, a country in the UN’s LDC list, ranked 8th in satisfaction across the
world in 2005. How did it rank higher in joy than leading economies like the US and UK? This
made me question the relationship between GDP and happiness, and what are the factors that
determine these?
By reading Meghnad Desai’s “The Poverty of Political Economy: How Economies Abandoned
the Poor”, I was introduced to the economic theories of Smith, Riccardo, Malthus and more.
Desai’s argument for a focus on human lives in political economy was compelling. His
introduction of a Pigouvian social welfare measure created a mathematical basis for the
principle, and it taught me how to quantify the intangible. However, it left me wondering how
political events affect this model, and what consequences decisions such as Brexit may have on
the relationship of GDP and GNH.
This led me to attend the Marshall Conference in 2023, where I found Dr Michael Kitson’s
lecture on “Global Crises and Megatrends” gripping. It increased my awareness on current
issues such as deglobalisation, protectionism and inequality, which present problems to both
GDP and social welfare. Kitson dispelled Carlye’s description of economics as the “dismal
science”, as I grasped how economics can affect major policies and political stances.
Entering the John Locke Institute Essay Competition, where the question “What would happen if
we banned billionaires?”, forced me to think about the hypothetical impacts a policy like this
would cause. Researching wealth distribution led me to free market philosophy, which I
disagreed with. Although people may have amassed their money in a just method, tax is
necessary, especially to maximise the marriage of growth and happiness. This fostered my
interest in the philosophy and deeper thinking behind economics.
Thus, I enrolled in the Harvard Course “Justice” led by Michael Sandel. I was alarmed how
principles of theories like Libertarianism can be taken to the extreme, for example Canada’s
MAID program. It seems morally wrong how it has been suggested to use the law to reduce
costs on the Canadian Health care system. This led me to read Sandal’s “What Money Can’t
Buy: The Moral Limits of Markets”, and I agreed with him, cost had gone too far and invaded our
innermost parts of life, especially with cases such as MAID.
At a work placement at MUFG, I learnt how economic models, based on the theories Desai
introduced to me, are used to predict crises. Doing A Level Further Maths helped me
understand the basics of the models used, and how quantitative figures have been used to
reduce risk to banks. I also learnt how politics has shaped MUFGs policies, with the Russian
Invasion affecting the firm’s investments. Another work experience at Capgemini gave me the
opportunity to be part of a sustainable solutions team, where we created an app to help raise
awareness about climate change. This helped me take a practical approach towards the issue
and gauge public opinion on the crisis.
