Several commentators have suggested that the UK’s decision to leave the European Union illustrates that governments must pay greater attention to the ‘losers’ from globalisation. Kevin O’Rourke argues that this fact has long been obvious. As the historical record demonstrates plainly and repeatedly, too much market and too little state invites a backlash. He writes […]

European Monetary Union was never a good idea. I remember my surprise when, as a young assistant professor, I realized that I was opposed to the Maastricht Treaty. I believed then – and still do – that European integration is a very good thing. But the textbook economics I was teaching showed how damaging EMU […]