Brexit places globalization on the line

Globalization is still the best way for individual economies, and a competitive marketplace, to thrive

Brexit places globalization on the lineIs this the beginning of the end for globalization? That’s what some commentators hinted at last week after the stunning result of the United Kingdom European Union membership referendum, or Brexit. The Leave campaign earned 51.89 per cent support (17,410,742 votes), while Remain finished at 48.11 per cent (16,141,241 votes). This led to an eruption…

Cameron may have lit the fuse, but EU provided the powder keg

The EU made a terrible mistake in the early '90s by choosing to massively enlarge its membership rather than strengthening its core

Cameron may have lit the fuse, but EU provided the powder kegAll of this was avoidable. British Prime Minister David Cameron may have lit the fuse that may lead to the disintegration of the European Union, but it was the EU’s own actions in the early 1990s that proved to be the powder keg. After the fall of the Berlin Wall, Europe faced a critical decision:…

Brexit financial repercussions will be felt for years

The referendum has aggravated growing concern about the instability of the global economic landscape

Brexit financial repercussions will be felt for yearsThe Brexit referendum result has the makings of a global financial disaster. Fifty-two per cent of United Kingdom citizens who recently went to the polls voted in favour of leaving the European Union. It's a decision that will be felt around the world for years. In fact, the Brexit vote will have gigantic economic repercussions…

Russia the big winner in the post-Brexit uncertainty

The EU’s resolve to continue sanctions against Russia may well weaken, with the nations of Eastern Europe caught in the crosshairs

Russia the big winner in the post-Brexit uncertaintyBritons’ June 23 vote to leave the European Union set the stage for a multi-year period of negotiations that will allow Great Britain to revise the terms of its participation in the EU and possibly lead to a complete withdrawal from the organization. The results, which triggered the resignation of British Prime Minister David Cameron,…

Another European financial crisis brewing

The next crisis will be triggered by the mounting bad debts of commercial banks

Another European financial crisis brewingA new financial crisis is brewing in Europe, one that will prove as devastating as the last economic crisis. This one will also be centered in southern Europe, only, this time, instead of being triggered by the rising debt of the region’s governments, it will be triggered by the mounting bad debts of commercial banks.…

Why Britain’s exit from the EU wouldn’t make sense

Brexit proponents fail to recognize how important Europe is to Britain's economy, and how critical Britain is to Europe's stability

Why Britain’s exit from the EU wouldn’t make senseVoters in Britain will determine the fate of the European Union on June 23. A decision to ‘Brexit' – leave the 28-nation EU – could have far-reaching implications for Britain and the world. Arguments for Britain leaving the EU tend to focus on seemingly irrational fears: fear of being swamped by foreign immigration, fear of British…

From Trump to Brexit, it’s all about nationalists vs. globalists

The tension between nationalists and globalists is very real and we’ll have to live with the consequences of how it turns out

From Trump to Brexit, it’s all about nationalists vs. globalistsScratch the surface on many of today’s contentious topics and you’ll find the clash between nationalism and globalism at the heart. While some people worry that the concept of national sovereignty and control is being eroded, others see such a development as a feature rather than a bug. To the nationalist, preserving national identity and…

Could the UK actually leave the European Union?

The UK’s relationship to what is now called the European Union has always been ambivalent

Could the UK actually leave the European Union?With Scotland’s independence referendum in the rear-view mirror, the UK is on course for another mass public consultation, perhaps even as early as this coming June. The question will be direct: Should the United Kingdom remain a member of the European Union or leave the European Union? This is known in media parlance as Brexit,…

Greece is an example of the failure of modern economics

The intellectual divorce between economics and political science led to the Greek crisis

Greece is an example of the failure of modern economicsEconomics is a subject with a long and distinguished pedigree, featuring such towering intellectuals and philosophers as Plato and Aristotle to economists like Sir James Steuart and Francois Quesnay, the Frenchman who gave the study its modern foundations. Unfortunately, the discipline split into two distinctive subject areas in the 20th century – economics and political…

Greece is learning what giving up sovereignty really means

Absent its own currency and the ability to conduct an independent monetary policy, no country can be really sovereign

Greece is learning what giving up sovereignty really meansAs I write this, the Greek drama is at its umpteenth crisis point. Will it go over the brink this time? If it does, could it conceivably take the euro with it? And what in heaven’s name is going on in Europe – purportedly the world’s most sophisticated polity. Theoretically, the 1648 Peace of Westphalia…