by Charles Hugh Smith
Of Two Minds
Brexit can be constructively viewed as a systemic step towards solving existing scarcities.
In the conventional narrative, Brexit is about immigration, escaping the EU’s bureaucrats of Brussels, class war or political theater. It may be about all of these, but beneath these surface issues lies a deeper dynamic: a recognition that the entire system is broken and a new arrangement of power, responsibility and risk is required.
In this view, Brexit is a positive step in the right direction, away from centralization and central planning and towards decentralized arrangements that enable more dynamic, localized solutions.
Longtime readers know that I focus on scarcity as the source of value creation: what’s scarce generates value, profits and high wages, and what’s abundant declines in value due to supply and demand.