Date: 2024-04-20 Page is: DBtxt003.php txt00021302
Trade
Brexit
Video Economics Explained ... How Has Brexit Been Going? ... It's been more than five years since the UK voted to leave the EU, are they regretting their decision?
Original article: https://www.youtube.com/watch?v=P0G3lYTOI0Q
Burgess COMMENTARY
Brexit is a major change ... or disruption ... in the status quo of European and international trade, not to mention on the life style of many involved as employees in the UK and the countries of the ongoing EU. Like any major change, the potential for unintended consequences is huge, and Brexit has been no exception.
On balance, this analysis from Economics Explained is fairly positive ... more positive than I expected. It may also be completely wrong, but for very different reasons.
I worry that this economic analysis is addressing performance of the UK (and countries in the EU) in a very conventional manner where the performance of national GDP growth is a major metric. My understanding is that when people in Britain voted for Brexit they had the hope that their family quality of life would improve. Whether or not that can happen does, in my view, go way beyond the Brexit initiative which has to function within a very complex global context with the national economic interest of many countries involved, not to mention the global issues like climate change and potential military confrontation involving the mega-powers (China, Russia, USA).
My hope is that socio-enviro-economic system analysis will be upgraded and used to identify policy and programs that will improve quality of life for the majority of the world's people no matter where they are, and at the same time that economic performance is optimized for economic resilience and environmental sustainability. For this to happen. more decision makers need to accept that aggregate measures of performance are rarely meaningful, and at the very least impact for different socio-economic demographics need to be addressed.
Peter Burgess
How Has Brexit Been Going?
1,549,655 views
Nov 12, 2021
Economics Explained
1.31M subscribers
It's been more than five years since the UK voted to leave the EU, are they regretting their decision?
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