The United Kingdom has avoided the disaster of Labour Party leader Jeremy Corbyn's radical socialism, but remains on track for a long grind through and after the post-Brexit transition period. Negotiating a new trade relationship with the European Union – not to mention the wider world – will take years.
NEW YORK – The United Kingdom’s general election this month not only settled the question of Brexit, but also put paid to Labour Party leader Jeremy Corbyn’s extreme vision of socialism. Corbyn’s electoral demise comes as a relief to all who reject the Venezuelan economic model: if it moves, regulate it; if it still moves, tax it; and if it’s still twitching after that, nationalize it. The UK has been spared a very costly five-year diversion. It is little wonder that markets heaved a sigh of relief following the Tories’ overwhelming victory.
NEW YORK – The United Kingdom’s general election this month not only settled the question of Brexit, but also put paid to Labour Party leader Jeremy Corbyn’s extreme vision of socialism. Corbyn’s electoral demise comes as a relief to all who reject the Venezuelan economic model: if it moves, regulate it; if it still moves, tax it; and if it’s still twitching after that, nationalize it. The UK has been spared a very costly five-year diversion. It is little wonder that markets heaved a sigh of relief following the Tories’ overwhelming victory.