Brexit and Economic Competition

The Good News About the Leave Vote

A Union flag is displayed at a money changing shop in Seville, southern Spain July 5, 2016. Marcelo del Pozo / Reuters

New British Prime Minister Theresa May and her Conservative Party cabinet will soon begin the difficult task of managing Brexit. The immediate financial market panic is behind us, and now that the dust has settled, policymakers in the United States and around the world should look ahead to the long-term implications of the United Kingdom’s separation from the European Union. The good news is that a carefully considered Brexit—one guided by the lessons of economic history—can be a significant positive both for the United Kingdom and Europe.

Trade and mobility of capital, labor, and ideas have increased dramatically over the past few decades, especially in Europe. But even more widely, the emergence of English as the primary language of trade; advances in the Internet, education, and health care; and myriad other developments have made Berlin, Hong Kong, and London closer substitutes for one another for today’s

Loading, please wait...

Related Articles

This site uses cookies to improve your user experience. Click here to learn more.