The Economics of Brexit
Social Education, Vol. 81, No. 2, pp. 84-87
Posted: 7 Aug 2017
Date Written: January 12, 2017
This essay will consider a number of interesting questions related to the Brexit vote. We will first examine, What is this European Union (EU)-operation that Britain is leaving? Using an economic perspective, Britain’s decision to leave the EU will be evaluated based on its costs and benefits to the UK. The result of the vote (commonly referred to as Brexit) implies that the British people believed the costs of staying in the EU outweighed its benefits. What are these costs and benefits? Considering these current event questions through the lens of economics can help provide valuable insights for students.
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