Main menu For students For teachers Explore our subjects Student events & courses

Explore

More for students
Sign in

Teaching Economics

Topic updates

Will Economists have the laugh last over Brexit?

Geoff Riley

7th April 2017

Share this content:

According to Sir Vince Cable, the answer is yes! This article comes from a strongly Remain perspective but is very readable from a politician with a long history as a professional economist in industry.

When Brexit comes we shall see one of the more extraordinary experiments in economic policy: a country deliberately raising trade barriers against its own exports by re-erecting non-tariff and tariff barriers that had been dismantled over many years. We do not yet know how far this exercise in self-flagellation will be taken, but economics does have solid theory and practical ways of measuring impacts which demonstrate that the creation of trade barriers inflicts costs which ultimately reduce living standards below what they would have otherwise been.

Share this content:

Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

You might also like

In the News Teaching Activity – How has the vote to Brexit 10 years ago affected the economy? (June 2026)

15th June 2026

Video Shorts on European Union Economics

4th January 2026

Micro & Macro Effects of Brexit | A-Level Economics Revision

3rd June 2025

In the News Teaching Activity – did the Spring statement address the UK’s economic problems? (Apr 2025)

3rd April 2025

Has Brexit Damaged the UK Economy? | A-Level & IB Economics

20th March 2025

Why Is UK Economic Growth So Slow? Key Challenges & Solutions Explained!

20th March 2025

In the News Teaching Activity – post-Brexit regulations reduce UK food exports (Dec 2024)

12th December 2024

Breaking Barriers: How a UK-EU Trade Reset Could Boost Economic Growth

9th December 2024