I of the fact that there is more than

I first became intrigued by economics after watching ‘A Confession of an economic hitman’. The author and chief economist John Perkins isn’t convinced of “the myth of democracy” but he rather believes the USA is run by corporatocracy whose aim is solely profit maximization regardless of social and environmental consequences. With the increase of crony capitalism, the large corporations undoubtedly have an immense influence on government policies and their actions, which undoubtfully is its darker side. However, after reading “Economics: the user’s guide” by Ha-Joon Chang I become conscious of the fact that there is more than one way to ‘do’ economics and each with its own strengths and weaknesses. The USA is mainly based on capitalism which isn’t the economic utopia that was described by Adam Smith. The country might be the largest economy in terms of nominal GDP.  But in terms of poverty and wealth inequality it’s far worse compared to other advanced industrial nations. With the fall of Soviet Union our western society declared communism as a failed model. However, one could argue that China, the next economic superpower, is proving this wrong. Yet this is debatable since China is implementing their own model, which is politically communist but economically it’s obtaining more and more capitalist features. So, towards which economic system are we heading in our postmodern world after trying out both communism and capitalism? The success of the ‘Chinese model’ is suggesting that the economic system isn’t the only aspect we should focus on, rather we should also have a second look at our political system.  In order to understand the complex formula behind a country’s economic success, I would like to study both disciplines. Looking at the Venezuelan crisis, we can definitely conclude that achieving economic success takes more than just possessing natural resources. A recent article in The Economist stated that the country is facing the worst economic crisis in its history. Ineffective monetary policies have it the worst textbook example of hyperinflation. Unbaling 93% of the population to afford basic necessities leading to a significance rise in crime rate and social instability. This crisis is an explicit example, which shows that in order to have a successful economy a country needs a stable political system regardless of availability of resources and the importance of democracy. However, the Catalonian referendum hunches a problem with democracy. This inspired me to do my extended research project on the Flemish independence movement in Belgium. This has provided me the opportunity to explore the concept of independence and ideology deeper. Doing this project improved my research skills and how to be selective and critical with the information gained from different resources.  In addition to my academics, I also take a special interest in technological developments. During my work experience in a travel agency, I came to realize the importance of digital media and technology. The company lacked competitiveness in this area and are trying to improve by increasing the budget for the marketing department. The travel agency already had five branches in other cities enabling them to exploit economies of scale and giving them local monopoly power. Due to my direct interaction with customer I was able to use my multilingual language skills and became aware of importance of having good social skills. I take special interest in diverse range of sports. During my last year of A-levels, I was selected for our regional team of handball. Being the team leader has helped me develop my leadership skills and maintain discipline while juggling training and school life. My chosen subjects provided me with the opportunity to participate in different competitions. I especially enjoyed being part of Young enterprise and the ICAEW Base competition, where I got the chance to put my theoretical knowledg