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Brad DeLong's Grasping Reality 2019-04-20 04:00:58

Summary:
Clive Crook pretends not to understand that Britain is a small island off the coast of Europe that will be much poorer without vibrant trade with Europe. Hence Britain is either (a) poor, (b) a member or quasi-member of the EU, or (c) a powerless rule-taker. No amount of national will spurred by Johnson's and Farage's desires to become prime minister can change that. Yet Crook somehow thinks or pretends to think that it can—that hard Brexit does not end in (a) or (c). I wonder why: Clive Crook: Brexit: In the End, the U.K.'s Choice Will Be Stay or Go: "There’s no point in seeking compromise when no good compromise is possible..... what many see as an appealingly soft Brexit: so-called Norway-plus.... [It] would...leave the U.K. as a powerless rule-taker.... Support for Brexit comes

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Clive Crook pretends not to understand that Britain is a small island off the coast of Europe that will be much poorer without vibrant trade with Europe. Hence Britain is either (a) poor, (b) a member or quasi-member of the EU, or (c) a powerless rule-taker. No amount of national will spurred by Johnson's and Farage's desires to become prime minister can change that. Yet Crook somehow thinks or pretends to think that it can—that hard Brexit does not end in (a) or (c). I wonder why:

Clive Crook: Brexit: In the End, the U.K.'s Choice Will Be Stay or Go: "There’s no point in seeking compromise when no good compromise is possible..... what many see as an appealingly soft Brexit: so-called Norway-plus.... [It] would...leave the U.K. as a powerless rule-taker.... Support for Brexit comes chiefly from resentment at Britain’s lack of control over the policies that affect it. Norway-plus would make that problem vastly worse... politics... devoted to butting heads with the EU over successive policy innovations over which it has no say...

Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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