Archive for June, 2016

Just how bad will Brexit be, and can it be undone?

Just how bad will Brexit be, and can it be undone?

By Simon Wren-Lewis. Published in the blog Mainly Macro on June 25, 2016. Mediamacro love their focus on ‘the markets’, and this leads to talk that makes Brexit sound like a major financial crisis. It almost certainly is not that. Impact on the UK economy At the heart of BrexitRead More

Britain’s Democratic Failure

Britain’s Democratic Failure

By Kenneth Rogoff. Published on Project Syndicate on June 24, 2016.  CAMBRIDGE – The real lunacy of the United Kingdom’s vote to leave the European Union was not that British leaders dared to ask their populace to weigh the benefits of membership against the immigration pressures it presents. Rather, itRead More

united kingdom exit from europe relative image

A British Tragedy in One Act

By Chris Patten. Published on Project Syndicate on June, 24, 2016. OXFORD – Thursday night is said to have been momentous for those who campaigned to leave the European Union and turn Britain’s back on the twenty-first century. On that, at least, I can agree. As Cicero wrote: “O wretched andRead More

On the Old Topic of Political Economy: Free Trade or Protectionism?

On the Old Topic of Political Economy: Free Trade or Protectionism?

When we talk about Industrial protectionism, it is common to think of underdeveloped countries and, in particular, Latin American countries during the period of import-substitution industrialization. However, there are other historical cases of interest.  For example, during the second half of the 19th century, trade policy in the United StatesRead More

Letter to friends: this is why I will vote Remain in the referendum by Nicholas Barr

Letter to friends: this is why I will vote Remain in the referendum by Nicholas Barr

The LSE’s Nicholas Barr explains why he will be voting to Remain in the EU referendum – citing a wide range of arguments about sovereignty, migration, international influence, regulation, democracy, trade and the single market to make his case. He concludes the economic and foreign policy costs of leaving are large, andRead More