Reply to post: Re: About Time

British Prime Minister Boris Johnson moves to shut Parliament

Justthefacts

Re: About Time

I am well aware that it isn’t a zero sum game, but you have failed to understand what that means.

It can be split into a zero-sum and non-zero-sum part.

The zero-sum part causes a zero net consequence to the UK economy. You missed the lesson of the eighties and nineties, that a trade deficit does *not* actually mean that we are somehow living off the bank of mum and dad. Trump makes the same mistake. It simply means that businesses in other countries really want to own GBP in the long term. It’s not up to you to decide whether they are right or wrong.

You are correct that there is a non-zero-sum element: tariffs cause loss to both sides. However, standard economics arguments show that the loss is equal to both sides. Always. In this case, e.g. , the EU suffers less loss per citizen but has more citizens, same total loss. So, if you don’t like no-deal, you should be throwing rocks at the Commission too for not finding a proposal acceptable to UK parliament. It wasn’t BoJo who caused the rejection, it was over half the MPs.

And finally, no I don’t make the mistake that the UK is indispensable. But you make the mistake that the EU is indispensable to the UK. Someone above claimed that 99% spinach was EU.....well I like spinach, but then again I like tabbouleh, maize, stir fry’s, steak, NZ lamb, mangoes, tomatoes both EU and non-EU. To claim that foodstuffs are non-substitutable in an age when we have globalised cuisine, and lost all seasonality in the supermarkets is just silly.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

SUBSCRIBE TO OUR WEEKLY TECH NEWSLETTER

Biting the hand that feeds IT © 1998–2019