It's Not The Economy, Stupid

Talking About Money Doesn't Sway People's Opinion

Because it is so obvious that economists don't remotely understand how the economy works, it is easy to forget that while us non-economists may not be quite as clueless we don't really understand it either.

Nobody does.


I think this is why the economic effects of Brexit are so hotly debabeted online.  You can basically convince yourself of anything you want.  And it seems logical that if you can persuade someone else that they will be better off, then you should have a good chance of getting them to agree with you.

It just never seems to work that way.  But even if you could prove beyond doubt that, say, Brexit is going to make you 5% better off, would that sway you to support it?   I strongly suspect it wouldn't.  I think that the EU has brought peace and prosperity to Europe.  So I think we are better off in.   But it's the first one that is the clincher for me.   I don't want wars anywhere, but I particularly don't want them on our doorstep and I sure as heck don't want to participate in them.  That's a benefit well worth paying for.

I imagine people on the other side of the argument feel much the same way.  I don't know why they object to the EU but they are quite likely to regard it as worth paying a price to get out of it.