Phil Knight’s take on the impending EU referendum
On the surface, the debate, such that it is, around a possible exit of the United Kingdom from the European Union, appears to be between two irrationalisms – between the fear of immigration and a globalized world on the one hand, and between the fear of economic collapse and a rise of dangerous nationalist sentiment on the other. The debate has also highlighted an asymmetry in the sides ostensibly conducting the debate, between “populists” who profess to represent the people, and an internationalist elite who affect to represent a disinterested, common sense, preference for stability.
Both of these sides, although they are largely unaware of it themselves, are capable of appearing surprisingly sinister, and that is because Brexit has unavoidably brought to the fore the structures of power that govern the global economy, and which normally prefer to remain unseen. The harsh warnings, easily interpreted as threats, against leaving the European Union that have emanated from foreign leaders and supranational institutions have been surprising not just for their starkness, but for the obvious approval they have garnered from the British establishment, notably from the Prime Minister himself, and his Chancellor, George Osbourne. This has demonstrated a key factor in Neoliberalism, not generally recognised but keenly felt, that national elites are not on the side of those they govern. The referendum has made abundantly clear that Cameron and Osbourne’s “people” are the likes of Christine Lagarde, Donald Tusk, Francois Hollande and Jamie Dimon – these, their fellow members of the international ruling class, are who they feel answerable to, and not their voters or the British public in general. This is now in the open for all to see, in a way that it hasn’t been before.