Professor Monshipouri on Brexit: When Politics of Fear Mask Failed Economic System

Friday, July 08, 2016
TEHRAN TIMES -- Mahmood Monshipouri, who teaches Middle Eastern studies at San Francisco State University and University of California, Berkeley, writes an op-ed on Brexit’s political and economic ramifications. “Uncertainty has become the new normal and the overarching theme of the 21st century. Since the June 23, 2016, British referendum on the European vote, markets in both Great Britain and the United States have plunged over the uncertainty. The United States lost more than $100 billion in only one day. Britain’s vote to leave the European Union has presented a big test for the rest of the world, as the implications of this vote will likely go beyond merely financial or legal consequences, involving political and diplomatic issues such as the emergence of new economic relationships, a changing balance of power and the resurgence of new forms of nationalism and localized rather than international ideologies.”