Viewing a single comment thread. View all comments

oryx_za t1_j8k5zu4 wrote

It's a great metric as it accounts for a lot.

My only critic it is not the goal on brexit as much as you think.

I am 100% against Brexit but playing devils advocate. We entered the EEC is the late 60. If you look at the graph, we took a greater knock then vs now.

Edit: we joined in 73, but the point remains.

19

Just-Quit-8034 t1_j8kk1f9 wrote

Oil crisis was that period

8

oryx_za t1_j8mhvlp wrote

But that's it point. The UK has taken other knocks that are not necessarily brexit relates. E.g. We took a greater hit on natural gas prices.

So to blame this on Brexit alone seems premature based on this data set.

What would be interesting if to take this same metric from the beginning of the eurozone and compare uk, us and the EU.

6

silvses t1_j8mt0sy wrote

Depends on how you view it. It couldve also prevented from falling it further with EC acting as a buffer to stagflation. Would be worthwhile to look into actions taking during that period.

The graph is relative to US, most countries around that time period were also growing exponentially. That high growth was same in UK which means they didn't lag on development.

1

Exp1ode t1_j8m7g1i wrote

>we joined in 73, but the point remains.

So the graph was trending slowly downwards after joining, and had a sharp jump after leaving

0