Leaving aside scepticism about the Euro for a moment, and turning to the European Union, Nosemonkey argues that the idea of “auditing the costs of EU law” is silly. Well, it’s a Cameron policy proposal…but enough snark.
British Eurosceptics tend to like estimates of the “costs of regulation” a lot. But there is a big problem with this argument. Specifically, if the British public love economic libertarianism so much, why don’t they vote for it?
Getting rid of the costs of regulation by leaving the EU only makes sense if, as well as completely re-orienting foreign and trade policy, we also completely revolutionise our internal policies in a whole range of fields. The libertarian claim for Euroscepticism is that we’d have the utopia, if it wasn’t for those pesky kids, or rather, foreigners. But there is no evidence that the UK electorate would vote for this implied, but never stated, political programme. The Libertarian Alliance is not a big force in British politics, to say the least.
Further, where’s the evidence that the UK has become a more regulated economy since 1973? Europe didn’t seem to slow down Thatcher much. Big Bang, privatisation, the campaign against the unions, various macroeconomic nostrums, we got them all.
Eurosceptics should be honest, and say that they intend to leave and then pass a massive program of economic Texanisation. Or else, they should sit down and shut up – at least as far as bignum forecasts of regulatory savings go. They can’t deliver them, because the British won’t vote for them.
Meanwhile, perhaps the Euro has too many friends and the European Union too few.