Samuel George with Daron Acemoglu for The Crossroads: a series on global economics from the Bertelsmann Foundation

The referendum in favor of the exit of Britain from the European Union (“Brexit”) marks a sad day for Britain and for Europe. It represents a victory of nationalism over the liberal economic order, in the country that inspired the ideas that lie at its foundations. The referendum probably signals the end of an experiment widely supported by the young, the elites and most economists, but which has failed in the eyes of the majority of British people. For Britain, the economic risks a ...