Weekend Reading: Diane Coyle: On Richard Baldwin's "The Great Convergence"
Fiscal Policy in the New Normal: IMF Panel

Should-Read: As I have said, democracy is not an especially good way of choosing effective technocratic leaders. And our current democracy appears to be rather worse than usual. Cf. Thoukydides, [Mytilene Debate][], [Sikilian Expedition][], Melian Dialogue:

Simon Wren-Lewis: The Folly of Triggering Article 50: "Immediately after the Brexit vote, all the analysis I saw argued that Article 50 would not be triggered for some time...

...They were thinking rationally....

...They were thinking rationally....

Triggering Article 50 without any kind of idea about what any agreement would look like puts the UK in a very weak negotiating position. This is why the EU were pressing for Article 50 to be triggered as soon as possible.... It would only be a slight exaggeration to say it allows the EU to dictate terms. Triggering Article 50 was our best card, yet it is a card that Theresa May is determined to throw away.... Anyone who actually wants a good deal from the EU when we leave should realise that the UK’s negotiating position becomes instantly weaker once Article 50 is triggered. I do not know whether those who have successfully pushed for triggering Article 50 so soon simply live in a deluded state... or whether they are desperately afraid that if it is not done soon people will go off the whole idea of leaving. But whichever... it is an act of folly....

As for Labour’s position, I’m afraid all I can say is you were warned.... But I do not want to get distracted by that....

So if MPs, pro or anti leaving, had any sense at all, and any independence at all, they would vote against.... But if have the interests of the British people as your priority rather than your short term popularity that is what you will do. You could even get voters on your side if you explain why you are doing it...

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