Brexit and the Economics of Political Change in Developed Countries

The economic forces underlying Brexitand the election of Donald Trump in the USare similar, but they are also well advanced in many European countries, where much of the population faces similar material insecurity and stagnation. These frustrations can easily be channelled by right-wing xenophobic forces. To combat this, the EU needs to undo some of its design flaws and particularly its adherence to fiscal austerity rules. Only a more progressive and more flexible union based on solidarity of peoples is likely to survive.