Should they stay or should they go: Brexit 2016

[myboynoah]

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[BlueK]

Excellent piece here on Brexit 10 years later and how it turned out to be a colossal failure. Also about our 14th Amendment.

https://www.theatlantic.com/podcasts...ndment/687497/

"One of the themes of this whole discussion today, from Brexit at the beginning to 1873 at the end, is the refusal of English-speaking people in these two great economic powerhouses—the British economic powerhouse of the 19th century, the American economic powerhouse of the 20th century and 21st century—to accept that we live in a planetary economy. Always have, always will. We can’t exempt ourselves from that rule. We are bound by the same global economy that smaller and weaker societies also are bound by. It’s just less visible to us, and we have more temptation to believe that if we simply isolate ourselves, that we can somehow stop the flow of gravity from affecting inside the borders of these great economies as it affects everybody outside."

"A recent study has made clear the cost of Brexit to the British economy. According to this authoritative study in 2025, British GDP per capita was 6 to 8 percent lower than it would’ve been without Brexit. Investment was 12 to 18 percent lower, employment 3 to 4 percent lower, and productivity 3 to 4 percent lower. What these economists who made this important study were surprised to discover is most economists in 2016 would’ve imagined Brexit as a onetime shock. It would’ve been expensive. The British would’ve digested it. They would’ve started at a lower level and then resumed their growth path.

But that’s not what happened. What happened instead was Brexit has been a permanent tax on British growth, because it’s contributed to all kinds of uncertainty. It’s, above all, discouraged investment—not only foreign investment, but even British investment. This has weighed on the economy’s trajectory for a decade and looks fair to continue to weigh on the economy’s trajectory going forward."

[PaloAltoCougar]

Excellent piece here on Brexit 10 years later and how it turned out to be a colossal failure. Also about our 14th Amendment.

https://www.theatlantic.com/podcasts...ndment/687497/

"One of the themes of this whole discussion today, from Brexit at the beginning to 1873 at the end, is the refusal of English-speaking people in these two great economic powerhouses—the British economic powerhouse of the 19th century, the American economic powerhouse of the 20th century and 21st century—to accept that we live in a planetary economy. Always have, always will. We can’t exempt ourselves from that rule. We are bound by the same global economy that smaller and weaker societies also are bound by. It’s just less visible to us, and we have more temptation to believe that if we simply isolate ourselves, that we can somehow stop the flow of gravity from affecting inside the borders of these great economies as it affects everybody outside."

"A recent study has made clear the cost of Brexit to the British economy. According to this authoritative study in 2025, British GDP per capita was 6 to 8 percent lower than it would’ve been without Brexit. Investment was 12 to 18 percent lower, employment 3 to 4 percent lower, and productivity 3 to 4 percent lower. What these economists who made this important study were surprised to discover is most economists in 2016 would’ve imagined Brexit as a onetime shock. It would’ve been expensive. The British would’ve digested it. They would’ve started at a lower level and then resumed their growth path.

But that’s not what happened. What happened instead was Brexit has been a permanent tax on British growth, because it’s contributed to all kinds of uncertainty. It’s, above all, discouraged investment—not only foreign investment, but even British investment. This has weighed on the economy’s trajectory for a decade and looks fair to continue to weigh on the economy’s trajectory going forward."

Frum's always very good, It would be nice if most UK conservatives acknowledged that Brexit was a mistake. But sadly today many on the right, on both sides of The Pond, are in thrall to what Condi Rice calls The Four Horsemen of the Apocalypse: isolationism, protectionism, nativism, and populism. Demagogues, of which Trump is one of history's greatest, love to ride them ponies.

[BlueK]

Frum's always very good, It would be nice if most UK conservatives acknowledged that Brexit was a mistake. But sadly today many on the right, on both sides of The Pond, are in thrall to what Condi Rice calls The Four Horsemen of the Apocalypse: isolationism, protectionism, nativism, and populism. Demagogues, of which Trump is one of history's greatest, love to ride them ponies.

Agreed, sadly I chuckle at Rice's use of the metaphor there but she was so right.