Leaving the EU has reduced Britain’s GDP by up to 8pc, according to a devastating US study

Leaving the EU has reduced Britain’s GDP by up to 8pc, according to a devastating US study

The latest such assessment comes in the form of a paper from the US-based National Bureau of Economic Research (NBER). This concludes that Brexit has reduced UK GDP by 6pc to 8pc, far more than most previous estimates.

Investment is worse off by between 12pc and 18pc, employment by between 3pc and 4pc, and productivity also by between 3pc and 4pc. There have been few more devastating assessments than this.

  • explodicle@sh.itjust.worksEnglish
    3·
    57 minutes ago

    IMHO part of the problem was that economics was more a branch of philosophy than a science until the 1970s, but the public never got the memo when this changed.

    So we get doofuses who act like their economics claims are purely a matter of opinion, not falsifiable hypotheses. Try arguing for a UBI and watch how many chalkboard economists tell you what they imagine would happen, completely ignoring all experimental results.