Scale Matters but Losses Still Large for the U.S.

It's been nearly ten years since Britain voted to leave the European Union. The run-up to the referendum was marked by competing claims regarding the consequences of Brexit, with Leave supporters claiming Brexit would restore British sovereignty over economic and social policies, while Remain advocates warned of self-inflicted economic harm. What have the actual consequences of Brexit been? And what lessons does it offer for nations seeking to disengage from the global economy today? Nicholas Bloom joins EconoFact Chats to discuss his recent research on these questions. Nick is the William D. Eberle Professor in Economics at Stanford. He is also the Co-Director of the Productivity, Innovation and Entrepreneurship program at the National Bureau of Economic Research, and a Fellow of the American Academy of Arts and Sciences.