Cross-posted from The Street.
When it comes to Britain’s exit from the European Union, a debilitating case of ‘nannyism’ seems to have afflicted some otherwise smart people.
There is a brighter future for those willing to be daring, however.
Britain should unilaterally declare itself open for free trade with zero tariffs (or other trade barriers) to any country that wants to do business. There is historical precedent for this from the nineteenth century, and it helped make Britain very rich.
A new move in this direction, would require no negotiators and would take only the time to write one or two sentences. It would be good for every nation trading with Britain, including those still in the E.U.
Constable is an economics/financial markets commentator. Currently, he writes the monthly “In Translation” column for The Wall Street Journal, and a weekly investments column for U.S. News & World Report. He also contributes regularly to Barron’s, TheStreet, Fortune, Forbes.com and other publications.
Prior to becoming a full-time economics journalist/commentator Constable worked in a variety of strategy/advisor roles for major corporations.
His first book, The WSJ Guide to the 50 Economic Indicators that Really Matter, won an economics category award in the 2012 Small Business Book Awards at Small Business Trends. It has been translated into multiple languages. He authored the Rudolf Wolff mini-guides to the London Metal Exchange, and the Real Money Guide to Investing in Gold.