Breaking down Brexit
The good, the bad and the confounding of Britain’s decision to leave the European Union.
By Brett McPherson
What exactly is “Brexit?”
On June 23, more than 30 million citizens of the United Kingdom voted to “exit” the European Union, by a narrow margin of 52 percent.
The vote sent shockwaves around the world, most notably in the financial markets. Since then, the markets have recovered and the story has faded from the headlines, as Great Britain and the EU begin the complicated task of negotiating their actual decoupling, which could take years.
But what impact does Brexit have on the U.S. economy, and what does the vote say about our own politics? We asked two MSU Denver experts: Kishore Kulkarni, Ph. D, professor of economics, and Andrew Muldoon, associate professor of history.
Here are some excerpts from our conversation, in which Profs. Kulkarni and Muldoon weigh in on the broader implications of the vote, the real cause of Britain’s discontent and why common citizens should understand more about economics.