Essay On Yin And Yang

Statement of Purpose

I have a strong belief in the Chinese philosophy of ‘Yin Yang’. The concept of Yin and Yang suggests that seemingly contrary forces are interconnected in the natural world and give rise to each other in turn. The interaction of these contradictory forces establishes a state of balance. Economics, with its concept of equilibrium, involves similar dualities. The presence of Yin Yang in economics more than just intrigued me. In the economic world, unlimited wants interact with limited resources and finally reach equilibrium through people’s rational choices. Similarly, the yin of capital inflows is balanced by the yang of capital outflows. As a person who likes things to be under control, I was fascinated by the power of economics in deploying scarce resources to maximize the economic well being and reach equilibrium.

For me economics is not only about business and money matters, it’s also about governance, leadership, management, accounting systems and politics. This realisation occurred to me when I read the ‘Arthashastra’ in grade 10. It is an ancient Indian treatise on economic policy, statecraft and military strategy which was written in around 300 BC by Kautilya, a great Indian philosopher and a contemporary of Aristotle. Arthashastra literally translates from Sanskrit as the science of wealth. After reading the detailed analysis of different aspects of the ancient Indian Economy in the treatise I wanted to learn more about international trade, taxation and the labour theory of value that Kautilya wrote about much before Adam Smith, David Ricardo or John Stuart Mills. Hence, I took it up as a subject in Grade 11 and 12 but as I started reading magazines and newspapers like ‘The Economist’ and ‘The Economi...

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...age in school. In my final year of schooling, I was awarded the Principal’s Award for All-round Excellence in Academics, Sports and extra-curricular.

It is important for me to continue my economic endeavour in the right environment and I am convinced that London School of Economics will provide me the most enriching and productive experience. Key for me is the excellent teaching faculty which includes eminent teachers like the Regius professor of Economics-Professor Sir Christopher Pissarides and Amartya Sen, Sir John Hicks and Friedrich Von Hayek who have been a part of the faculty in the past. The opportunity, to network with economists from all around the globe, which I will get at LSE will help me broaden my horizons. I am eager to contribute to all aspects of university life and realize my potential under the guidance of such an exceptional institution.