The lesson from Brexit is that too much market and too little state invites a backlash

Several commentators have suggested that the UK’s decision to leave the European Union illustrates that governments must pay greater attention to the ‘losers’ from globalisation. Kevin O’Rourke argues that this fact has long been obvious. As the historical record demonstrates plainly and repeatedly, too much market and too little state invites a backlash. He writes that markets and states should be viewed as political complements, not substitutes.