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Monday, June 27, 2016


'Citizens of the World'? Nice Thought, But ...

Megan McArdle

The inability of those elites to grapple with the rich world’s populist moment was in full display on social media last night. Journalists and academics seemed to feel that they had not made it sufficiently clear that people who oppose open borders are a bunch of racist rubes who couldn’t count to 20 with their shoes on, and hence will believe any daft thing they’re told. Given how badly this strategy had just failed, this seemed a strange time to be doubling down. But perhaps, like the fellow I once saw lose a packet by betting on 17 for 20 straight turns of the roulette wheel, they reasoned that the recent loss actually makes a subsequent victory more likely, since the number has to come up sometime.

Or perhaps they were just unable to grasp what I noted in a column last week: that nationalism and place still matter, and that elites forget this at their peril. A lot people do not view their country the way some elites do: as though the nation were something like a rental apartment -- a nice place to live, but if there are problems, or you just fancy a change, you’ll happily swap it for a new one.

In many ways, members of the global professional class have started to identify more with each other than they have with the fellow residents of their own countries. Witness the emotional meltdown many American journalists have been having over Brexit.

And from a larger perspective:

A lot of my professional colleagues seemed to, and the dominant tone framed this as a blow against the enlightened “us” and the beautiful world we are building, struck by a plague of morlocks who had crawled out of their hellish subterranean world to attack our impending utopia. You could also, I’d argue, see this sentiment in the reaction of global markets, which was grossly out of proportion to the actual economic damage that is likely to be done by Brexit. I mean, yes, the British pound took a pounding, and no surprise. But why did this so roil markets for the Mexican peso? Did traders fear that the impact on the global marmite supply was going to unsettle economies everywhere?

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