Tired old Propaganda

I studied economics at Oxford, taught it, helped introduce management science as a secondary school subject in Scotland and subsequently examined it.

However, there are considerably more eminent economists than me who support Brexit. Perhaps I might pray in aid the 2017 report by Patrick Minford, Professor of Economics at Cardiff University and Roger Bootle, Chairman of Capital Economics, Europe’s largest macroeconomics consultancy, among others. The group included six former economic advisers to government and eight university professors.

“Brexit could boost the UK economy by as much as £135 billion a year...it is time to abandon the gloomy forecasts of Project Fear and embrace Project Prosperity – the mounting evidence that quitting the protectionist EU will transform Britain’s prospects over the next decade.”

Now you may not agree with the distinguished authors of this report, but isn’t it about time to ditch the tired old propaganda campaign that Brexit is exclusively the province of the ignorant? Rational discussion is not aided by abusing those who don’t agree with you, nor by hysterical prophecies of cataclysm.

It simply is not the case that all the evidence points one way. As Spinoza pointed out, it depends on the colour of the glass through which you view it in the first place. In this case, also, there is a decision to be made on the balance of probabilities and of risk versus reward.

Even if majority opinion amongst certain groups did point one way it’s not much of a guarantee. I’ve been here before, being called a xenophobe and a fool almost two decades ago, when I was one of the relatively few economists who held that the UK should not join the Euro because it was unsoundly structured, would not work properly and would damage several European economies severely. Strangely enough, nowadays I find far more people who remember agreeing with me back then than I ever noticed at the time.