(June 24, 2016 at 2:35 am)Tiberius Wrote: There's a reason we elect representatives: because we want them to make educated decisions for us. The average person does not understand economics on a large scale, and that includes myself. I would have voted "Remain" purely because the experts overwhelmingly supported that option, but I would have preferred no referendum at all.
To some extent I agree. With respect to the USA, people tend to forget that it is a Constitutional Republic even though representatives are elected officials. At the same time, when power is concentrated in a small group of unaccountable officials, entrenched interests gain disproportionate influence.
Experts, captains of industry, and politicians tend to overwhelming be members of an elite class that are not directly affected by the decisions they make. They live in gated communities while unassimilated immigrants move into working class neighborhoods. They have armed guards but disarm vulnerable convenience store owners. They don't notice a 1% increase in fuel taxes when filling their Audi's while the extra expense is sorely felt by the independent long-haul trucker. A large corporation hires administrators while the corner baker has to work nights and weekends to complete government paperwork. The same laws that purportedly protect the public seem to serve more like barriers to entry for ambitious people doing the everyday work of making a living in their local communities.
This isn't to say that Brexit was good or bad in the long run. Just that ordinary people are not a top priority to hedge fund managers, large financial institutions and the CEOs of multinational corporations. And prior to the Brexit vote their contempt for the commoners was palatable even in the US. It takes effort, grit, vision and ingenuity to make a living by running a family farm, a small shop, or land-lording a small 3-flat. They may not know a whole lot about macro-economics, but you can be certain that everyday folks know what their customers want and how to give their best to serve them. I can understand ordinary people not having confidence that the rich and powerful are looking out for them.
