by Troy Vincent
Mises.org
The night after the vote for an independent United Kingdom from the European Union had concluded I found myself at dinner with my wife trying to explain why the world portrayed by many financial analysts and news outlets was so filled with doom and gloom. “Why does the UK leaving the EU necessitate a global or UK financial meltdown?” she asked. And then it hit me, this was the question the world’s largest financial publications were failing to ask, or at the very least to answer honestly.
The answer to this question can be as complex as you would like to make it, but the clear and simple answer is this: the UK leaving the EU fundamentally necessitates neither of these things. To justify this simple answer we need only consider what affords a national economy its productivity.