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Adam Smith in his seminal work
The Wealth of Nations made the clear observation that trade ‘carried on with a neighbouring country is…more advantageous’ than that ‘with a distant country’ and he was even clearer that the most beneficial situation would come from ‘greater trade with continental Europe’ (Smith, 537).
Smith’s words are as true now as they were then but unfortunately the Conservative party (the supposed party of the economy who idealise Smith) have decided to ignore this. Ever since 2016 the determination to pursue hard Brexit has trumped all forms of economic credibility and common sense.
As with the imperialists of centuries ago who wanted to maximise trade with the Empire over our nearest neighbours the current crop of Tories have decided to pursue far flung trade deals to try and compensate for the barriers they have erected against the EU.
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