THE world has enjoyed an unprecedented run of peace, prosperity and cooperation the last 25 years, but now that might be over. At least when it comes to those last two.
That, more than anything else, is what Britain's vote to leave the European Union means. A British exit, or Brexit, will make the country poorer in the short run, perhaps in the long run too, and might drag the rest of Europe down with it. That's because Britain is essentially ripping up its free trade deal with the rest of Europe. But of far greater concern than just dollars and cents is that this is the most significant setback in Europe's 60-year quest for "ever closer union," and the most shocking success for the new nationalism sweeping the Western world.
Brexit, in other words, is the end of the end of history.
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