Mon Feb 12, 2018 1:19 pm
#1590441
A conundrum for me with the whole EU process from an economic perspective is that it produces flows from the poorer countries to the richer countries. I believe the Euro both facilitates and amplifies this. It results in an effective transfer of political power from the poorer countries to the richer countries, who are then often left relying on the economic largesse of the politicians from the richer countries.
As a richer country, the UK benefits from the flow of labour from poorer countries to the UK, and as people who immigrate tend to by nature be highly motivated, we end up with some of the cream of the poorer countries. This does, though, act to deplete some of the best resources of the poorer countries, which results in them being even weaker. To some extent, though, there are financial flows back to those countries, and a number of immigrants do repatriate themselves and take much of their newly found wealth back with them.
A similar thing happens within the UK, where the flows move to the south east, and the rest of the country is then cap in hand to London.
Why I find this a conundrum is because, although these flows appear largely positive for us on the face of it, they have also had a more unwelcome impact of depressing overall labour rates in many, if not most, occupations at, largely, the expense of our middle classes. The net effect is that we are seeing a massive transfer of real wealth and power to a very small and privileged elite.
Good if you are prepared to get on your bike, but bad for the majority that don't want to move.
It is unreasonable to blame just the EU for this when the same issue is happening within our own country, but the resulting effects are divisive, and revolutions have started over less.
We live in interesting times.
As a richer country, the UK benefits from the flow of labour from poorer countries to the UK, and as people who immigrate tend to by nature be highly motivated, we end up with some of the cream of the poorer countries. This does, though, act to deplete some of the best resources of the poorer countries, which results in them being even weaker. To some extent, though, there are financial flows back to those countries, and a number of immigrants do repatriate themselves and take much of their newly found wealth back with them.
A similar thing happens within the UK, where the flows move to the south east, and the rest of the country is then cap in hand to London.
Why I find this a conundrum is because, although these flows appear largely positive for us on the face of it, they have also had a more unwelcome impact of depressing overall labour rates in many, if not most, occupations at, largely, the expense of our middle classes. The net effect is that we are seeing a massive transfer of real wealth and power to a very small and privileged elite.
Good if you are prepared to get on your bike, but bad for the majority that don't want to move.
It is unreasonable to blame just the EU for this when the same issue is happening within our own country, but the resulting effects are divisive, and revolutions have started over less.
We live in interesting times.