Policy decisions have consequences. This is the essential lesson of Brexit, economist Thiemo Fetzer concludes in this original and broad-based research. He finds that populism in the United Kingdom, fomented by austerity cuts to social programs, boiled over into dissent significant enough to inflict long-lasting political and economic disruption. getAbstract recommends this noteworthy report on the reverberating effects of fiscal decisions to policy experts, regulators and business leaders, all of whom must now reckon with the long-term impacts of Brexit.
In this summary, you will learn
- How globalization challenges governments to provide social safety nets,
- How austerity can lead to political and economic upheaval, and
- Why political consequences need to inform fiscal policies.
About the Author
Thiemo Fetzer is an assistant professor of economics at the University of Warwick.