Posted by Jay Livingston
The pound was down 10% making anything imported to the UK more expensive. Global markets tumbled, including those in the UK. Some Leave supporters were ecstatic.
All I could think of was Steve McQueen’s famous line in “The Magnificent Seven.” McQueen plays Vin, one of the seven gunslingers who come to the aid of Mexican peasants who are being constantly raided by a group of bandits led by Calvera. At one point, Calvera captures the seven. He cannot understand why they would sign on to help a bunch of Mexican peasants.
CALVERA: The thing I don’t understand is why a man like you took the job in the first place. . . Tell me why. VIN: Fella I once knew in El Paso, one day he took all his clothes off and jumped in a mess of cactus. I asked him the same question, why? He said it seemed to be a good idea at the time.* |
Voting often has a strong emotional component. The advantage of representative democracy over direct democracy is that we give the job of turning sentiments into actual policy to our representatives. Presumably, they have to think through more of the implications.**
I suppose what a democracy needs is a mechanism that allows people to express their political emotions and have it appear that those emotions have become policy while at the same time leaving real policy to those who will craft it more slowly and soberly.
The Leave vote does not automatically change the UK’s position. As a Financial Times post explains, the vote is technically a non-binding advisory. It’s possible that parliament will decide to act against the advisory. In any case, the process of leaving will take two years, and perhaps during that period, UK voters may rethink the Brexit,*** even it seemed like a good idea at the time.
As Calvera says to Vin in that same scene, “Only a crazy man makes the same mistake twice.”
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* The video clip is here . I didn’t embed it because the way McQueen delivers the line doesn’t capture the feeling I think is appropriate. He’s serious, almost somber. I would prefer him laugh it off and say in effect, “Yeah, I guess it was stupid, but what can you do?” I also think that “seemed like a good idea” sounds better than “seemed to be a good idea.”
** My knowledge of political thought is slender. But surely one or more of The Federalist Papers must have considered this problem – how to keep the passions of the majority from inflaming the process of running a government.
*** On “Planet Money,” the American hosts asked British economist Tim Harford, “Any chance for a do-over? Two out of three?” Said Harford, “I think it’s unlikely.”