Paul Ormerod
Brexit needn’t take Britain back to the 70s
© PETER KING/FOX PHOTOS/HULTON ARCHIVE/GETTY IMAGES
Adam Posen articulates clearly the serious damage he thinks Brexit will do to the UK economy. He may be proved right. But the future has a habit of remaining obstinately unknowable. Keynes wrote in the 1930s of the “dark forces of time and ignorance which envelop our future.” This is a more stylish way of making the same point. Keynes used “ignorance” in its literal sense. We face inherent limits to our knowledge of social and economic systems.