It’s quite funny as economists traditionally ignored by Govt whimper at the public not getting their warnings that GDP might reduce if we leave the EU. They could also point out that Govt Economic Policy is sub optimal and they are ignored on that too. No doubt economists feeling the call of Keynes who pontificated :-
Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back
Except here the madman is the public ignoring their GDP aggregate which has become the measure of a country’s output and income and like Unemployment and other metrics changed regularly to seemingly tell workers whose incomes relatively and probably absolutely are eroding they’ve never had it better.
I am afraid whilst prepared to accept that this accounting measure will be lower outside the EU the difference and assumptions hardly make it decisive in choosing to vote to leave a corporatist corrupt EU or not. The EU seems bent on a downward path and in Greece’s case prepared to sacrifice an entire population to its whim and economic violence. If you’re a fan of Globalised Capital the EU is a no brainer. If you’re not it’s a no brainer no matter what 0.5% of GDP means to you. Ok bit of trolling in that last point but 0.5% GDP is that a huge argument for you? Really? I suppose you were all over the 25% devaluation in the £ after 2008 as well.
Given politicians habitually ignore economists what has particularly upset them? That it’s the great unwashed? Not their superiors who hand out subsidy and grants to their ‘Think Tanks’ and universities? Maybe Economists can answer that one with a measure to prove their argument?