Originally posted on Michael Roberts Blog:
Back last June, I made some rash predictions about the UK and globally (http://thenextrecession.wordpress.com/2014/06/10/uk-industry-some-predictions-for-2015-onwards-and-a-piketty-review/).
The first was that “the Scots will narrowly vote no to independence, reducing the uncertainty about the break-up of the UK for another decade. This will be a relief for British big business. Alex Salmond and the Scottish Nationalists will use the narrow defeat to get more concessions on tax-raising powers (already promised by the Conservatives) and will look for another vote down the road.”
The vote NO was decisive on a large turnout, but Glasgow, Scotland’s biggest city, voted YES to independence. That suggests a significant anti-Tory and anti-political elite vote, probably from the younger voters. The economic case for an independent Scottish capitalist state that would benefit working people compared to the Union was weak at best (see my post,
But the mood of opposition and disgust at the UK’s…
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