Last night, the British people voted to leave the European Union. When Britain joined the European Economic Community in 1973, the EEC was little more than a customs union. Over time, the EEC evolved into a supranational entity that at least superficially resembled a federal state. The European Union has its own flag, anthem, currency, president (five of them, actually) and diplomatic service. It is governed by an overpaid and arrogant, but opaque and unaccountable, bureaucracy in Brussels. It was, therefore, perfectly reasonable to give the British electorate an opportunity to reflect on the changes that have taken place in Europe over the last 43 years.
Moving forward, there is no reason why nations committed to entrepreneurship and free trade should not prosper outside of the EU. Switzerland has done so in the past and Britain can do so in the future. By showing the rest of Europe that it is possible to live in prosperity and peace outside the suffocating confines of the EU, Britain could lead the way for other nations — including Denmark, France, Holland and Sweden.
This item first ran on Cato at Liberty.
