Brexit Is a Rejection of Globalization

The less affluent fear political unions and expanding institutions because they lack power and control. With more concentrated power, wealth and influence the have-nots resist globalization, clinging to populist promises and local controls. Britain’s decision to leave the European Union reflects dissatisfaction with an economic model in place for three decades and its distribution of benefits. “In the age of globalisation, the idea was that a more integrated Europe would collectively serve as the bulwark that nation states could no longer provide,” explains Larry Elliot, economics editor for the Guardian. “Britain, France, Germany or Italy could not individually resist the power of trans-national capital, but the EU potentially could. ”Voters fail to educate themselves and political leaders fail to take steps to manage globalization. “Voters have legitimate grievances about an economic system that has failed them,” Elliot concludes. “Punishing Britain will not safeguard the EU. It will hasten its dissolution.” – YaleGlobal

Brexit Is a Rejection of Globalization

The EU failed to protect its population from a global economic model that many believe is not working for them – the EU must unite to repair troubled systems
Larry Elliott
Monday, June 27, 2016

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Larry Elliott is the Guardian’s economics editor and has been with the paper since 1988.

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