Tuesday, June 28, 2016

Why Did the UK Enter the EU in the First Place?

Mish Shedlock. investment advisor and blogger,  questions on his blog Mish Talk why the UK entered the EU in the first place (with thanks, Mish.) He makes some interesting points, but really hilarious is his reference to a clip from the 1980s BBC TV series,  “Yes Minister”.*

                                            Yes Minister: Why Britain Joined the European Union

(* 16 episodes were re-recorded for BBC 4 radio and available online. Strongly recommended for those who like politics and British comedy.)

1 comment:

  1. Interesting but too libertarian for my taste. If we scupper the EU regulations, there are two possible outcomes: (1) Member States introduce their own product and services legislation and regulation, and products are governed not by one set of rules, but 27, at least for companies that want to sell across borders. Say goodbye to free trade or free movement of goods. Remember non-tariff barriers to trade are worse than tariffs; and (b) if the free movement rules prevail over national regulation, a race to the bottom ensues. National rules on environment, consumer protection, IPR, safety, will become ineffective since imported goods can outcompete local ones. A libertarian's wet dream, but not realistic and undesirable.

    In sum, sure, cut down excessive red tape. Support Timmermans "Better Regulation" program (which vets existing and new rules with a view to throwing out unnecessary ones) and perhaps even expand it. But leaving the EU will result in more red tape rather than less.