Jeffrey: Trusting in the post-Brexit spirit of capitalism

There is no doubt the principal immediate consequence of the Brexit vote has been a further increase in uncertainty.

There was some evidence this was already rising and having a negative impact on investment decisions during the run up to the referendum, but in the ensuing period it will have intensified. Uncertainty will be damaging to economic activity, of that we can be certain. However, it is less certain how long this period will last, and the extent of the damage that will be done. Why the break-up of the EMU could have much deeper consequences than Brexit One way of categorising the leave decision's impact on the economy is to look through the components of aggregate demand (demand-based G...