Only gradually, the damage becomes visible. Economic growth is dwindling; political conflicts over income distribution are increasing; the state becomes more and more powerful.
Let's set aside the politically tempting task of speculating about what might happen in the event of a No Deal Brexit, what can we say with certainty will happen?
Loose monetary policy can appear to work so long as real wealth is expanding. But money expansion weakens wealth creation over time, eventually leading to slower growth, lost wealth, and economic busts.
While repealing laws and police reforms are important in alleviating mass incarceration, the problem is likely to continue as long as prosecutors are permitted to operate with so few constraints.
"Herein lies the key to changing society — changing public opinion or people's preferences toward government. And the only way people are likely to change their preferences is through education and persuasion; force is ineffective."
