Lessons to be learnt from Brexit4 min read . Updated: 27 Jun 2016, 01:33 AM IST
If we want a more flexible, borderless, creative world, we need systems to insure the losers from globalization
The United Kingdom decided to leave the European Union on Friday, by a small but nonetheless profoundly significant margin. This result has left markets stunned—European and UK banking stocks, the FTSE and the pound all crashed on the news, and the ramifications of this decision are still unfolding. The UK political establishment seems completely bewildered—David Cameron’s confident demeanour apparently deeply shaken, he announced his imminent departure as prime minister moments after the results were confirmed. He clearly never expected this result when he took the (in retrospect, terribly rash) decision to call the referendum this early in his second term.