An Accidental Brexit New EU and Transatlantic Economic Perspectives
"Paul J.J. Welfens has written a highly perceptive study of the origins – and the implications – of what must be Britain's worst deliberate economic policy mistake since the Great Depression." —Harold James, Princeton University, USA "This book
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BREXIT New EU and Transatlantic Economic Perspectives PAUL J.J. WELFENS
An Accidental Brexit
Paul J.J. Welfens
An Accidental Brexit New EU and Transatlantic Economic Perspectives
Paul J.J. Welfens European Institute for International Economic Relations (EIIW) University of Wuppertal Wuppertal, Germany
ISBN 978-3-319-58270-2 ISBN 978-3-319-58271-9 (eBook) DOI 10.1007/978-3-319-58271-9 Library of Congress Control Number: 2017940595 © The Editor(s) (if applicable) and The Author(s) 2017 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover credit: Zachary Scott/Getty Images Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
The historical referendum on European Union membership was the second such event to take place in the United Kingdom since 2014— when the Cameron government organized the Scottish independence referendum. In an obvious way, a referendum in a Western country invites all voters of the respective country to indicate their view on a critical topic and may be dubbed the ultimate expression of democratic decision-making. Thus, one should expect careful preparation on the side of government and a lively debate between the pro and con sides. At first sight, the British EU referendum of 2016 was indeed organized according to this logic, but upon closer inspection one can easily understand how unprofessional the information campaign of the Cameron government had actually been. Under normal circumstances, with the expected referendum standards applied, the outcome of the referendum would have been—as will be shown—52.1% in favor of Remain. The reality was decisively different for several reasons, as we shall see, with a 51.9% majorit
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