The East African Community is a recent single market. It works and they have good relations with the EU. However, they are discussing a single currency and greater political union, which researchers warn them against.
Will Britain be worse off and, if so, for how long if we leave the EU. Despite the fears wound up by the Remain campaign and David Cameron, among others, we don’t truly know. Experts build into their models the assumptions that give them the outcome they wish to predict. They don’t declare their assumptions so we can’t tell if their models are any good.
Economics is one of two major issues that may decide the outcome of the Brexit referendum (the other is immigration). Arguments from both sides are weakly based on unspecified and unsubstantiated assumptions. As a result the referendum may be decided more on impressions and emotions than on honestly reasoned projections.
EU mandarins claim they could solve banking crises, which pepper the world economy, if only member states would converge and conform to their ill-supported policies.
There have been many silly – and indeed incompetent – regulations imposed on us by the EU. Here’s an example.
Economics is not a science; economists cannot conduct controlled experiments. “An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.” Yet leaders of the EU/EMU believe that they can predict and control the future, if only the rest of us would stick to their rules. Economically Britain is drifting away from Europe.
“Forecasts are almost always wrong, we should take them with a pinch of salt.” This section discusses the limitations, uses and abuses of economic models. It also provides some excellent links to other articles that explain this clearly and simply.
The BBC has produced an entertaining and informative reality check for those of us who are confused by the bombardment of contradictory economic ‘facts’ with which we are assailed.
‘Britain Stronger in Europe’ claims in its mass mailshot: “Experts agree that jobs would be lost and family finances hit if we left – and our security would be put at risk.” This is a lie, they don’t agree.
Many people worry that their jobs and incomes are threatened by immigrants from poorer countries and this has increased since the EU expanded into Eastern Europe. The free movement of labour is a sacrosanct component of the Single Market but it is hard to see why EU citizens should be preferred over others with skills we need, unless it is to further the single state.