The reactions to Brexit show its true significance

Summary: The two previous posts brought us to the edge of analysis about Brexit, beyond which lies guessing. But there are sparks by which we can see what might happen in the next few months. I’ve gathered some of them here for you.

Sunrise or sunset for Britain?We make it sunset or sunrise.

Elites & their courtiers consider it foolish to allow a vote by peons on their fate.

“Why did he do it? Why take such a needlessly cavalier risk with the country’s future and his own?”
— The Honorable David Runciman (Prof Politics at Cambridge) in “Why did he do it?” at the London Review of Books.

The contemptuous reaction to the Brixit vote shows with rare clarity the desire of Europe’s elites to roll back the past century’s shift to democratic institutions. Why should the peons have a say in their fate, interrupting the smooth government by their betters?

“IYI”: intellectual yet idiots. It is often falsely used to describe powerful people (and their courtiers) acting in their own interest — usually successfully so.

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An anthropologist looks at Brexit: The World Changed Overnight

Summary: Anthropologist Maximilian Forte looks at aspects of Brexit seldom mentioned by the news media, and its long-term significance (beyond the immediate tantrums by institutional investors and traders). This is a follow-up to yesterday’s Brexit was logical, neither racist nor irrational.

EU flag burned

 

The World Changed Overnight

By Maximilian C. Forte
From Zero Anthropology
Posted with his generous permission.

The European Union is now to be written as a postscript. Thanks to British voters, who were given an extremely rare chance to have a say on one of the biggest issues affecting their lives, who were allowed a rare vote on the fate of globalization and neoliberal practice, we are treated to the celebration of a world where sovereignty still matters. Far from a thing of the past, self-determination will now remake the world of the immediate future. The stern advice, dire warnings, commanding lectures, and even threats offered by a plethora of financial elites, economists, a whole range of academic experts and European and US political leaders, came to naught.

When it comes to taking back local control, for citizens to decide on which systems should be allowed to determine their life chances, when it comes to self-determination the UK has now gone to the front of the queue.

The status quo is the status quit. The key words are: out, leave, exit. Globalization’s tense is increasingly becoming past tense.

Convention has been up ended, and what was deemed unlikely, even impossible, just a few short months ago has instead come to pass. Elites, experts, commanders, and opinion-shapers of the ruling strata have all failed. They have been rejected. What was presumed to be inevitable about a global future, has now been proven false. The distrust and disdain of disillusioned voters, long sold false promises and told to suck it up when bitter reality struck, has finally taken the form of a decisive counter punch.

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Brexit was logical, neither racist nor irrational

Summary: The campaign against Brexit featured fantastic predictions of doom (but seldom with much supporting fact or logic) and assertions that it was racist and irrational. Europe’s elites resorted to these barrages of fear for good reason: the EU does so much for them. Here’s a look at the costs to Europe’s people, which journalists seldom report.

“Simple Brexit lesson: When people are pissed off about mass immigration address their concerns — don’t call them racists.”
Mickey Kaus (conservative gadfly).

The voice of the ruling elites in the US & EU, united.
But too much of a good thing is disruptive.

Obama on Immigration

Will Brexit begin the End Times? While the result will not be a box of candy for Europe, I doubt the results will match the hysterical anti-Brexit propaganda of UK (& US) elites. But the responses of most journalists and columnists, as usual, faithfully parrot the establishment’s views.

“With a single vote, England just screwed us all. …The result is that we are now entering a world in retreat from progress…”
— Felix Salmon (financial journalist), boldly speaking for UK and US elites. He lividly fantasizes about the horrors in the future if we dare to disobey.

Slate’s headlines today provided a full suite of elitist anti-democratic advocacy. Elections & courts are good only when they endorse elite opinion! This is the dumbest (as if investors are the global economy, and their happiness is the top goal of public policy: “The Brexit Just Gave Us Global Financial Turmoil, Just as “Remain” Supporters Warned” by Henry Grabar (a hysterical reaction to one day’s market action — which wasn’t extraordinary).

A close second is “Old England’s Overthrow” by Gabriel Roth — “The doughty British establishment conspired with voters to bring about its own destruction.” Any bets on UK elites still in the saddle next month? Next year? In 20 years?

Seldom mentioned in the news were calculations of Brexit that contradicted the narrative of doom. For example, in Au Revoir, Europe: What if Britain left the EU? David Charter (a Times journalist) reported that if the UK and EU negotiated a bilateral trade treaty (likely, the medium-term effects would be small. Despite the confident predictions of certain catastrophe, the overall effect depends on the speed of the Brexit and how the UK and EU implement it.

Massive immigration is a box of candy for a nation’s elites. It forces wages down (supply and demand). It boosts aggregate economic growth, although not necessarily per capita growth (nor does it usually “trickle down” to the average Jane and Joe). The combination of these two factors boosts profits. If done on a large scale, it can destabilize a society — making organization against its elites less likely (e.g., unions).

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