“The Creation and Destruction of Value” 価値の創造と破壊 Vol.6

(All the below links are in English.)

Vol.6 2008年世界金融危機(第3章―2)

 第二に、モノの流れの減少の面である。
 特に、リーマン崩壊の端緒において銀行信用が収縮し貿易金融が儘ならなくなったところ、多くの先進国では半官の金融機関が貿易保証を出せたが、同様のことをできた新興国は殆ど無かった。そのため、アジア・ラテンアメリカ諸国は、買い手が居ても先進国に輸出できなくなってしまった。そして、生産拡大のための精密機械などの輸入もできなくなり、それらを輸出していた日独の輸出は2008年第4四半期には激減した。
 そして、貿易が減ると人は貿易依存を減らそうとするという脱グローバリゼーションの悪循環に陥った。これは、理想的な防衛手法ではないにせよ、デフレーションの増殖を国境で食い止める非常に満足の行く次善の策であった。開放経済では、需要が自国の枠から漏れ外国に職を創出し税も外国政府に行ってしまう “leaky Keynesianism”(漏れるケインズ主義。あくまで参考:Fixing the Economy? Like Filling a Leaky Bucket | @TheRagBlog。)になることがあるためである。
 加えて、欧州では、通貨統合のためのマーストリヒト条約の中核である、公債発行額をGDPの3%以内、公債発行残高を60%以内とする財政ルールは、ケインズ的反循環政策(景気刺激策)を採らねばならない危機においては、放棄されねばならなかったが、それが可能な仏独と不可能な希伊葡に分かれるなど、意思決定力が麻痺してしまった(あくまで参考:Guest Post by Timothy King: Keynesian Policies Under the Fiscal Treaty | Phillip Lane @irisheconomyieGoverning hand: Philip Lane takes charge of Central Bank in recovering economy | @BeesleyIT)。

イギリス Vol.8(Brexit – UK’s Referendum on EU Membership イギリスEU残留国民投票 Vol.7)

Here is just a part of tweets concerning the Brexit from 24 to early AM 25 June (BST). A kind of rough, limited-time, fixed-point observation – harmless, of course, and hopefully helpful for all the people’s further understanding.

A divided country: how and why Britain voted for Brexit | @Channel4NewsAge groups

Brexit: How The Oldies of Britian Stole The Younger Generation’s Future | @TheAffinityMagAge et al

The areas and demographics where the Brexit vote was won | @guardianVotes area map

Brexit: people voted according to education, income and age | @FT
Edu & age

EU Referendum | @BBCBreaking
Divided

‘I’m full of regret’: extraordinary moment Brexit voter changes her mind | @Telegraph

Demographics, markets and migration: charting Brexit | @TheEconomistClasses

What just happened? A Brexit explainer | @wef

Why the polls and social media got Brexit wrong | @Forbes

Brexit Is ‘The 1989 of This Generation’ | @V_of_Europe

The seven stages of Brexit grief, explained | @Independent

‘Brexit is an Eton Wall Game where poorest are put up against the wall and shot’ | @MirrorPolitics

Londoners sign petition for metropolis to stay in EU, Mayor Khan says city must have a say in Brexit negotiations | @AFP
Commonwealth

Boris Johnson says Britain will continue to be a great European power | @rtenews
FDI

Brexit aftermath – in pictures | @guardian
Risk

Sky didn’t fall today, there is no global systemic crisis, but UK & EU both handling nitroglycerin… | @AmbroseEP

Why Brexit was a great idea | @NRO
Force for good or ill

Here’s how the Brexit will actually work | @ndtv
EEA

Brexit is terrifying — and no, not because of the economics | @voxdotcom

The seven stages of Brexit grief | @Independent

Opinion: After Brexit it’s clear: to save liberal democracy, politicians will have to reform capitalism | @FT

‘Why upset the apple cart?’ asks a farmer after Brexit | @guardian

Brexit: What we know and what we don’t know | @CBSNews
Migration

So the Brexit happened. Now what?  | @vicenews

What does Brexit mean to the world economy? The Economist: It’s grim | @ProPublica

UK votes to leave EU — what this might mean for the markets & your portfolio | @MerrillLynch
HYF

Excellent postmortem by @AnthonyBarnett. He had seen it coming! Blimey, it is Brexit! | @yanisvaroufakis

The post-Brexit financial world remains deeply uncertain | @guardian

Sterling v USDollar
Why Brexit is so bad for the economy | @TheAtlantic

Brits are still trying to figure out what Brexit is after voting for it | @ComplexMag

You don’t need to be an expert to understand this Brexit graph. Latest developments here | @BBCBusiness

After Brexit: The System Cannot Hold | @zerohedge

Diplomats from EU’s founding 6 nations are meeting in Berlin to discuss UK’s exit from bloc | @AP

Next
Brexit FAQs: What happens next? | @TheAtlantic

For the latest on the fallout from the Brexit vote, FF our colleagues from @POLITICOEurope | @politico

What will happen now to the real-estate markets in the U.K.? | @WSJ
Housing mkt

Thousands Of British Refugees Make Dangerous Journey Across The Irish | @WhispersNewsLTD

The pro-Brexit message resonated with those who feel left behind | @FT

With Brexit, the British people have … lost a lot of credibility, writes @djrothkopf | @ForeignPolicy

The small but real possibility that Brexit won’t ever happen | @Slate

What impact would Brexit have on the EU? | @wef

‘Clueless?’ UK citizens google ‘What’s EU?’ after Brexit | @RT_com

Will the Brexit vote prompt a second Scottish independence referendum? | @SkyNews

Scotland is likely to seek independence from the UK (again) after the Brexit vote | @CNN

Germany and France struggle to hold EU center as Brexit storm blows | @business

It feels like the beginning of the end”: Germans react to Brexit vote | @dw_business

Domino Effect: Brexit May Trigger Referendums in Italy and Netherlands | @V_of_Europe

Spain and Italy bear brunt of Brexit stress | @fastFT

After Brexit, could there be Grexit? | @AJEnglish

France fears Brexit consequences for EU defense capability | @ReutersWorld

Defence secretary says he has been reassured US-UK security ties ‘will endure’ post-Brexit | @itvnews

Brexit may throw billions of pounds worth of agriculture trade into question

Trade and tourism will suffer most in these 6 EU nations because of Brexit | @business

Sarah Palin Urges the US to Leave the United Nations | @MotherJones

The aftermath of Brexit “is a defining moment for American diplomacy,” @IvoHDaalder tells @JudyWoodruff PBSnews | @NewsHour

The liberal project is increasingly an American one, @benwallacewells writes | @NewYorker

Brexit should be a lesson to the U.S. that angry voters sometimes get their way | @BrookingsInst

After Brexit, what? U.S. secessionists hankering for ‘Texit’ | @Reuters

Want to understand Brexit? Imagine Texas leaving the United States. | @voxdotcom

Brexit Shows Betting Markets Are Not a Silver Bullet for Predicting Elections | @reason

@realDonaldTrump and @SpeakerRyan reacted very differently to Brexit | @politico

What Brexit means for the U.S. presidential election | @TIME

Voters
Brexit is like waking up with @realDonaldTrump as president | @ComplexMagLife

Obama responds to Brexit: “…yesterday’s vote raises challenges posed by globalization.” | @Forbes

In Dublin speech, @VP Biden responds to BrexitVote & rise of Trump w/ words of caution on “reactionary politicians” | @CBSEveningNews

Hannity: The British ‘Showed Obama Their Middle Finger’ With Brexit | @DailyCaller

Sharing my take on Brexit vote live on @facebook now | @newtgingrich

British anti-immigration leader says Brexit is Obama’s fault | @thehill

People are figuring out ways to blame Obama for Brexit, because of course they are | @Slate

Brexit creates a lonely new American exceptionalism, @benwallacewells writes | @NewYorker

Why Brexit is likely to be one of the most consequential events for the world since the end of the Cold War | @HarvardBiz

Paul Krugman on Brexit: “Well, that was pretty awesome – and I mean that in the worst way” via @NYTOpinion | @nytimes

“To see Britain reject its neighbors in this way is profoundly depressing.” | @HarvardBiz

Brexit: the world’s most complex divorce is about to begin. Here’s how it might proceed | @FT

How to navigate Brexit volatility | @PIMCO

Here’s what economists and analysts are saying about the Brexit vote via @WSJEcon | @WSJ

How Brexit will affect the global economy: right now, in a little while, and long term | @nytimes

What are the business and financial ramifications of Brexit for the rest of the EU? @FTI_EMEA | @FTI_SC

Why British firms will not rush to judgment on Brexit | @TheEconomist

Banks around the world deploy their Brexit contingency plans. Should you worry? | @TheStreet

Here’s the Brexit memo Goldman Sachs CEO Lloyd Blankfein sent to staff | @businessinsider

@ABC News Special Report: Stock market tumbles in aftermath of Brexit

Japanese auto companies and a Hong Kong tycoon are among those hurt by “Brexit” vote | @WSJ

There is no reason why nations committed to entrepreneurship & free trade can’t prosper outside of the EU | @CatoInstitute

44% of the UK’s exports go to the EU. Now, we don’t know what that trade will look like via @business | @FiveThirtyEight

GOT IT WRONG: Pollsters, Pundits, Historians, Financiers… | @DRUDGE_REPORT

Brexit: One thing is more clear than ever — we must keep demanding that leaders everywhere ActOnClimate | @ClimateReality

How can we make Brexit work for the environment? – Craig Bennett | @guardianeco

Law firms are positioning themselves to make some cash after Brexit via @WSJLawBlog | @WSJ

Credit rating agency Moody’s cuts UK outlook from stable to negative after Brexit | @BBCBreaking

US high yield bond market adjusting to Brexit, with large gaps lower | @Forbes

The Brexit could have wide implications for the U.S. economy | @CNN

4 ways Brexit could hurt the U.S. economy | @CNNMoney

Here’s what Brexit means for American travelers | @TravelLeisure

These trades are the winners and losers from the Brexit vote shock | @business

Japanese companies are getting a surprise bargain out of Brexit | @business

@ABC Special Report: Stock market tumbles; Dow closes down over 600 points after Brexit.

8 things you need to know about Brexit | @CNNMoney

The giant hedge fund that got Brexit right via @WSJMarkets | @WSJ

Alan Greenspan on Brexit | @MarketWatch

Global stocks tumble after Brexit decision | @TIME

The 2nd richest man in the world lost $4.4B overnight due to market response to Brexit | @Forbes

An expert sums up the economic consensus about Brexit | @voxdotcom

Overwhelmed by Brexit? Here are the basics | @nytimes

Three reasons Americans should care about the Brexit | @latimes

What to watch for in the markets after the Brexit shock | @nytimes

Brexit sent stocks sliding around the globe. The S&P 500 closed at 2,037.35 | @markets

BrexitVote: The Dow closed with its largest drop since August 2015 | @Variety

BrexitVote could affect Americans’ 401(k) plans, mortgages, personal businesses, vacation plans | @ABC7

What UK startups make of the shock Brexit vote by @riptari | @TechCrunch

Here’s what Brexit means for the tech industry | @TIME

British tech firms eye relocation after Brexit vote | @guardian

Why British scientists are freaking out about Brexit | @Gizmodo

Brexit big blow to UK science | @guardian
EU research funding

Scientific community worries that Brexit will mean loss of funding, talent, business and collaboration. @sciam | @michikokakutani

Academics are uniting in bewilderment at Brexit | @Independent

Cornwall voted for Brexit, and now wants to keep its EU funding | @anneapplebaum

Brexit is ‘terrible news for TV and film’ | @Independent

They couldn’t keep you in the dark | @BreitbartNews

HBO says Brexit won’t impact production on ‘Game of Thrones’ | @TIME

Arts hit back at Brexit: ‘I feel nothing but rage’ | @guardian

What Brexit means for the fashion industry | @ELLEmagazine

The British passport has lost a lot of its value already | @Independent

Brexit forces British expats to become FRENCH because they’re so scared of being sent home | @DailyMailUK

The 10 best places to emigrate to after Brexit | @Independent

Migration
How immigration fueled Brexit | @TheNatlInterest

Pro-Brexit politicians are the dog that caught the car. Now immigration is their problem. | @voxdotcom

How will EU migrant workers be affected by Brexit? Via @AlannaPetroff | @CNNMoney

Scapegoating immigrants for economic suffering is easier than confronting austerity | @thenation

So who are the winners from Brexit? | @guardian

Brexit Created Many Losers, But Some Winners Too | @NPR

Brexit was sold as a victory for the working class. It isn’t. | @thinkprogress

How the pied pipers of Brexit cheated the poor and how they might be stopped – excellent by Matthew Parris | @JasonCowleyNS

Actually, the ones most out of touch were the ones who didn’t see Brexit coming | @IngrahamAngle

Brexit could cause UK charities to lose over $200 million every year | @HuffingtonPost

Celebs on Brexit: “We had a headache, so we shot our foot off. Now we can’t walk, and we still have the headache.” | @Salon

Media stocks tank in US after Brexit vote | @THR

Hozier calls Brexit a “massive betrayal”: “My heart breaks” | @billboard

On the eve of Brexit, Elton John welcomed luminaries into his home for a more hopeful affair | @VanityFair

How Brexit could impact the creative industry | @FastCoDesign

Brexit Meets Monty Python on the New Yorker’s next cover | @FastCompany

27 Brexit tweets guaranteed to make Brits laugh, cry, or probably both | @BuzzFeedUK

30 Brexit tweets: Collection of best memes, jokes, cartoons, gifs on Twitter | @htTweets

How cartoonists around the world are reacting to Brexit | @Independent

Explaining Brexit in the best possible way—with Simpsons memes | @TheAVClub

Martin Rowson on the Brexit vote – cartoon | @guardian

イギリス Vol.7(”Brexit”? – UK’s Referendum on EU Membership イギリスEU残留国民投票 Vol.6)

Here is just a part of universities’/scholars’ (academic) articles/papers/videos/podcasts concerning the Brexit on Twitter through early morning, 22 June (BST).

[United Kingdom]

@Cambridge_Uni

@CambridgeNewsUK

@Politics_Oxford

@UniofOxford

@LSEEcon

@ConUnit_UCL

@KingsCollegeLon

@WarwickBSchool

@DurhamLawSchool

@cranfieldmngmt

@UniOfSurrey

@UniofBathIPR

@BristolUni

Manchester @MBSnews

@unibirmingham

@UniofExeter

(@UniofNottingham)

@unisouthampton

@sheffielduni

(@UniofReading)

Leicester @UoLNewsCentre

@lancasterarts

@UniWestminster

(@Uni_of_Essex)

@SussexUni

@imperialcollege

@QMUL

(@RoyalHolloway)

(@GoldsmithsUoL)

London Business School @LBS

@UoLondon

@CityUniLondon

(@StirManSchool)

@lborouniversity

@UniKent

@BradfordUniSIS

@YorkAlumni

@uniofeastanglia

@UniofNewcastle

@UniversityLeeds

@livuninews

(@univofstandrews)

(@UofGlasgow)

@EdinburghUni

@aberdeenuni

(@dundeeuni)

@cardiffuni

(Aberystwyth @AberUni)

@QueensUBelfast

[Overseas]

@tcddublin

UCDDublin @UCDLawSchool

@AucklandUni

(@unimelb)

Melbourne @Government_UoM

(@ANU_Law)

@ArtSS_Sydney

Toronto @UofT_PolSci

(Toronto @munkschool)

@UBCSauderSchool

@UBC

Harvard @Kennedy_School

@Harvard_Law

@YaleSOM

@YaleGlobal

@PrincetonBCF

(Princeton @WilsonSchool)

@StanfordCISAC

Stanford @SIEPR

(@MIT)

@UChicago

@UCBerkeley

イギリス Vol.6(”Brexit”? – UK’s Referendum on EU Membership イギリスEU残留国民投票 Vol.5)

Here is just a part of articles/videos concerning the Brexit on Twitter through early morning, 20 June (BST).

E.U. Countries Warn Britain on ‘Brexit’: You’ll Pay if You Leave Us | @stevenerlanger

Nobel prize-winning economists warn of long-term damage after Brexit | @GuardianAnushka & @jilltreanor
– ‘Economic arguments are clearly in favour of remaining in the EU’, economics professors write –

Could British EU Exit Be Watershed for Global Economy? | @dgmchugh

City bets on pound to suffer bigger plunge than ‘Black Wednesday’ after Brexit vote | @Pete_Spence & @Tim_Wallace

The Battle of EvermorePeaks & troughs
– It has been a bad-tempered and unenlightening campaign, during which few have changed their minds. But Vote Leave now has an edge –

French ambassador urges UK to help shape a ‘reformed Europe’ | @philipstephens
– Sylvie Bermann defends the EU and says the two nations are ‘real allies’ that should collaborate on what is a ‘work in progress’ –

Asia stocks gain as Brexit fears ebb slightly, safe-havens retreat | Shinichi Saoshiro

New York Times Tries to Pin ‘Violence’ on Brexit Campaign | @JamesDelingpole

What’s working with supporters of the leave and remain camps? | @Usherwood

Brexit is being driven by English nationalism. And it will end in self-rule | @fotoole
– The EU referendum could lead to the creation of a new nation state –

Brussels slaps down British threats to rewrite immigration rules | @tobyhelm
– President of European parliament says UK has ‘no chance of curbing basic principle of free movement’ –

Schaeuble Says EU Set to Avoid Chaos If Britons Vote for Exit | @bjennen1

Will Brexit bring UK property doom or years of future boom? | @ed_mead & Paul Smith @haart_uk
– Two estate agents give contrasting views on what leaving the EU could mean for house prices and international investment –

Brexit Alarms Propel Gold Investors to Near Record Rally Wagers | @luzi_ann

Brexit Edinburgh includes the BNP | @bellacaledonia

Could Brexit Lead To New Scottish Referendum? | @jamesmatthewsky

EU Referendum: Swansea people are searching for leave more than stay on Google | @readmybook

After Brexit: Roadmap for a leap in the dark | @macdonaldrtr

EU referendum: Which papers are backing Brexit and Remain? | @GavinCordon
– The Mail on Sunday and The Observer backed Remain while The Sunday Times and The Sunday Telegraph backed Leave –

CurrencySchengen

What would British business be like after Brexit? | @phillipinman

Welcome to the Fantasy Island of Little England | @emile_simpson

Brexit Could Set Off Frightening Chain Reaction In EU | @schrieberg

Central banks ready to intervene in case of Brexit: ECB’s Visco | @Islabin @AndrewHeavens

Fear, Loathing and Brexit | @paulkrugman

The financial markets aren’t afraid of Brexit – they are afraid of the incompetence of global leadership | Hamish McRae

Britain will become an isolated trading post ‘with the significance of GUERNSEY’ if we vote for Brexit says French minister | @petereallen

In Gibraltar, Brexit Vote Stirs Fears of a Rocky Road: Residents and workers worry a U.K. exit from the EU could complicate their access to the European market | @JENeumann

Brexit: UK should remain
– The result of next week’s crucial UK referendum on whether or not to remain in the European Union will have worldwide repercussions. –

Central banks mull dollar liquidity injection as Brexit looms | Anirudh Sethi

The Brexit debate has exposed the Establishment | Brendan O’Neill

Military chief switches sides to back Brexit against EU ‘army’ | @AnnabelPHoward
– Field Marshal Lord Guthrie says he was wrong to back Remain and now believes leaving would be ‘better’ for British defence –

Consequences of Brexit sink in for US politicians after killing of MP | @RobertsDan & @Bencjacobs
– The death of UK member of parliament sent a shock through Washington as the EU referendum vote could affect foreign policy and international relations –

@jimcramer’s game plan: Brexit won’t cause chaos many expect

IMF: Brexit May Not Mean A British Recession| @EdConwaySkyIMF

https://mobile.twitter.com/StrongerIn/status/744553727994933248

https://mobile.twitter.com/AP/status/744145402300108800

https://mobile.twitter.com/toadmeister/status/744062748724727808

https://mobile.twitter.com/JenWesthoven/status/743789291365609472

Brexit – The Strategic Implications [Video: PanelDiscussion] | Professor Sir @LawDavF, Emeritus Professor of @warstudies; Professor @FHeisbourg, Chairman of the Council, @IISS_org; @NigelInkster, Director of Future Conflict and Cyber Security, @IISS_org

@Erik_Jones_SAIS: Calling an EU referendum was a bad idea; voting to leave would be worse | @IISS_org

Brexit and the Law of Unintended Consequences [with PDF] | @LawDavF @IISS_org

FinancialsImpactsPoundBack...Rate

If you think the UK will be in control after Brexit, dream on | Andrew Graham
– It’s a fantasy that the EU will trade with us on our terms. Only by remaining will we have any clout –

Brexit: Norway’s Prime Minister Erna Solberg warns Britons ‘won’t like’ life outside EU | @ashcowburn
– ‘Brussels will decide without the Brits being able to participate in the decision-making’ –

EU referendum: Dutch newspaper writes open letter in response to The Sun backing Brexit | @histubbs
– ‘We not only love you, we need you’ –

Europeans are scooping up gold on Brexit fears | Frank Holmes

Japanese yen pushed higher by Fed safe-haven flows amid Brexit fears | @LeslieShaffer1

What brexit could mean for the creative industries | @sabrinashim
– With the deadline to register to have a say in the future of the UK in Europe fast approaching, it’s time to take stock of what we could lose by leaving the EU. –

America’s gun laws and our rush to Brexit are symptoms of fearful nations | @gabyhinsliff
– Politicians on both sides of the Atlantic make a mistake by pandering to fear instead of defusing it. It can lead to bad decisions –

NEW BREXIT POLLS: Leave has surged to BIG LEADS in hugely important surveys | @adampayne26

https://mobile.twitter.com/faisalislam/status/744643505537060870

https://mobile.twitter.com/StefanMolyneux/status/744634792323522560

https://mobile.twitter.com/ShowMe/status/743877214857355264

https://mobile.twitter.com/dwnews/status/743732920053993472

https://mobile.twitter.com/went1955/status/743690590240440321

https://mobile.twitter.com/LeaveEUOfficial/status/744485140353552385

https://mobile.twitter.com/pestononsunday/status/744461716226867200

https://mobile.twitter.com/StrongerIn/status/744495554978324485

https://mobile.twitter.com/StrongerIn/status/744589253196255233

THE FUTURE OF THE EU: FACING COMMON CHALLENGES | TOMÁŠ PROUZA

Brexit would be a ‘lose lose’ for everyone, warns German politician | @Colmkelpie

North of England has most to lose from Brexit, says ‘In’ campaign | @kyliemaclellan

Want to know the reality of employment law after Brexit? Just look at this document the government buried four years ago | @hannahfearn
– If we leave the EU, the Conservatives have a blueprint for scrapping workers’ rights –

What would Brexit mean for the City of London? [with Video] | Patrick Jenkins
– UK exit from the EU would have big consequences for international banks –

Brexit and the UK’s geopolitical destiny [with Video “Head to Head – Brexit: Au revoir Europe?” (interview with Lord Norman Lamont, 48:49)] | @E_Karagiannis
– The future of the UK is tied, for better or worse, to the rest of Europe if only for reasons of proximity. –

How to keep your EU citizenship after Brexit: British nationals are set to lose out, but there are some workarounds | @joncstone 

Brexit would help us control immigration. Like me, many Labour voters want out | @frankfieldteam
– There’s a dangerous gap between Labour supporters and the parliamentary party on this issue. Europe isn’t working for workers any more –

Rethinking sovereignty: why “taking back control” is an empty slogan | @RobinNiblett
– “Let’s take back control” is an empty slogan unless doing so improves prospects for British citizens. –

Brexit would help UK manufacturing survive in a global market | @DrGerardLyons
– The challenge posed by low-cost producers such as China will continue, whatever the EU referendum outcome –

Brexit fears wipe £100bn off FTSE 100 in four days – business live | @graemewearden

Brexit fears drive German bond yields to below zero | @SP_Morgan

Stocks Slide With Pound Amid Brexit Risk as Sovereign Bonds Jump | @inyhwang & @JoeCiolli

Axa CEO Warns There’s an ‘Extremely High’ Probability of Brexit | @FabioWire

‘Anglophile’ Rutte Says Brexit Won’t Happen as Voters See Sense | @corinaruhe & @ACBerlin

BREX-ITCH: Dutch Activists Cruise Into UK To Help Farage Campaign For Brexit | @RaheemKassam @BreitbartLondon

Holland BACKS Brexit: Dutch people urge Britons to QUIT doomed bloc and lead EU revolution | @parfitt_tom @Daily_Express
– THE vast majority of Dutch people want Britain to quit the European Union in this month’s historic in/out referendum, according to a new poll –

Chance Of A Lifetime To Beat The Neoliberals | Doug Nicholls

Four union leaders argue Brexit is the only option in the interests of workers | MICK CASH, @MickWhelanASLEF, @Ronniebfawu, Doug Nicholls

Remain and Renegotiate! How to stop the Brexit bandwagon: Labour needs an urgent new offer on EU migration | @paulmasonnews @Medium

Global stocks fall, Bund yields go negative on Brexit fears | Herbert Lash

Don’t Be Too Pessimistic About Brexit | @jimcramer @RhondaSchaffler @TheStreet

Huge hit...scaremongering...The TimesFT

Brexit: Facts Not Fear | @toadmeister @SpecCoffeeHouse @spectator_ch

Brexit chances surge: live chart of bookmakers’ odds | John O’Neill @SpecCoffeeHouse @spectator_ch

EU Referendum: Turnout odds may have surged too far | @LeightonVW

Bookies Are Still Pretty Sure Brexit Isn’t Going to Happen | @DaraDoy

Brexit Countdown: 8 days to go | @henrymance
– Sour note for concert, warning on Leave pledges, and the ‘neverendum’? –

European integration with or without Britain | @Kemal_Dervis

EU referendum – when to buy your holiday money | Larry Elliott

Trumping the Brexiteers | @johnmcternan
– Britain does not ‘need’ Europe, but Europe needs Britain; the UK should have pride in its place in the EU. –

https://mobile.twitter.com/Channel4News/status/743158896391421952

https://mobile.twitter.com/FT/status/743379438985830400

https://mobile.twitter.com/dw_business/status/743349465629655040

https://mobile.twitter.com/StrongerIn/status/743352585579487236

イギリス Vol.5(”Brexit”? – UK’s Referendum on EU Membership イギリスEU残留国民投票 Vol.4)

Here is just a part of (academic/analytical) articles concerning the Brexit.

This is how Brexit would affect British trade | Roderick Abbott @wefThey need each otherFree Trade WorldEEA two-pillar structureEEA & EFTA bodies

Will Brexit Destroy Britain and Europe?: @plegrain weighs the views of Joschka Fischer, Richard Haass, Joseph Nye, and others on what Britain’s withdrawal from the EU would mean for both sides. @ProSyn
– On June 23, British voters will decide in a referendum whether to remain in the EU or go it alone. Advocates of remaining, including Prime Minister David Cameron, may have the better arguments, but the future of the UK – and of Europe – is unlikely to be determined by reason alone. –

Britain’s Enemy Within | Harold James @ProSyn

Why Britain Should Remain European | Simon Johnson @ProSynCER-1CER-2

Europe’s Generational War | Harold James @ProSyn

Can the UK Survive Brexit? | Harold James @ProSyn

The Economic Consequences of Brexit | @plegrain @ProSyn @CEP_LSEPriceIncome

The UK Referendum – and the Future of the European Project [with PDF] | @guydej1 @ECIPE

The Brexit briefs June 2016: Our guide to Britain’s EU referendum [PDF] | @TheEconomistBrainsBetterLeverageShare

A background guide to “Brexit” from the European Union | @TheEconomistDebateTimesRegulation

EU referendum special [Podcast]
– @annemcelvoy hosts a special version of The Economist asks. @ZannyMB, editor of The Economist, reveals why the magazine has taken a strong line on Brexit, while Italian ex-Prime Minister and EU Commissioner Mario Monti criticises David Cameron’s handling of the issue. Plus, MPs from Leave and Remain go toe to toe, and Lane Greene gives his take on the language that has defined the campaigns. –

Brexit: the potential of a financial catastrophe and long-term consequences for the UK financial sector | ‏@CFMUK @voxeu @cepr_org

A British Exit from the EU Leaves the Financial Sector Vulnerable | @FTI_SC

イギリス Vol.4(”Brexit”? – UK’s Referendum on EU Membership イギリスEU残留国民投票 Vol.3)

Here is just a part of articles/videos concerning the Brexit on Twitter through 13 June (BST).

Brexit and the Globalization Trilemma | @rodrikdani

Six economists on Brexit – interviews by @MrVikas | @yanisvaroufakis

What happens if we vote for Brexit? | @alanjrenwick @ConUnit_UCL

Unit publishes new Briefing Paper on Brexit and its consequences for Devolution and the Union [with PDF & Video] | @ConUnit_UCLScotland, Northern IrelandLong term consequences

Brexit, Hungary and EU Funding | Dr Thomas Lorman @UCLSSEES

BREXIT WOULD SHAKE THE FOUR PILLARS OF BRITISH FOREIGN POLICY | Lord John Kerr @CER_London

Berlin and Paris need a strategy for Brexit | @GuntramWolff @Bruegel_org
– Which political strategy should the EU and its biggest two members, France and Germany, pursue if the UK were to leave? –

Debunking the Brexit myths: Four-fifths of scientists support staying in the EU. Here is why. | Sir PAUL NURSE @NewStatesman

Mapped: The Cosy Climate-Euro Sceptic Bubble Pushing for Brexit and Less Climate Action | @kylamandel @DeSmogUK

THE IDEOLOGUES WITHIN | @JohnSpringford @SimonTilford @CER_London
– Britain’s right-wing populists will not stop at Brexit – they want control of the Tory party and thus the country. Their ideological, unempirical world view provides few solutions to the problems facing the UK. –

European nations & organisationsNew Europeansafter poll surgeBeLEAVEfib.

U.S. Investors Are More Worried About Brexit Than a Summer Fed Hike or the Presidential Election | @julieverhage @LJKawa

You won’t ‘get back your country’ if you vote for a Brexit – you’ll give it to the most right-wing UK government in recent history | @Jon_Danzig
– The social policies once proposed by the pro-Brexit Iain Duncan Smith were described by the European Court of Justice as ‘unfit for a modern democracy’ and ‘verging on frighteningly authoritarian’ –

The Treasury ‘grossly exaggerated’ the economic and financial impact of Brexit, says academic review – and Cameron and Osborne are ‘treating us like children’ | @matt_dathan

A Don’s Life: Why I have voted ‘Remain’ — or ‘STAY, UK’ as I prefer to call it.

Boeing gives Brexit ANOTHER ‘fantastic’ boost by picking Britain for new European HQ [with Video – Boris Johnson] | @LanaC
– THE world’s largest aircraft maker has made the case for leaving the union even stronger by choosing Britain for its new European headquarters. –

Brexit would make the UK more secure by scuppering plans for an EU army, French admirals claim | @KateEMcCann

Brexit supporters have unleashed furies even they can’t control | @pollytoynbee

The UK Leaving the EU Would Change the European Music Industry | @laurasnapes @pitchfork

Brexit would mean fewer new homes built, major housebuilders say | @rowenamason

Brexit: It’s smarter to stay | @Brinkbaeumer & @FAHarms
– The choice is between a moment of pride and a new future built together: If Britain is clever, it will remain a member of the EU, because it will recognise that the future of the west is at stake. –

Why Leave campaign is personal and political for Gove [with Video] | @bbclaurak

Brexit would absolutely be applauded in Russia, says defence secretary | @NortonTaylor
– Michael Fallon tells defence committee that leaving EU would be ‘extraordinarily irresponsible at a very dangerous moment’ –

Brexit could lead to EU break-up – Swedish FM @margotwallstrom

‘Danexit’: Should Brexit Succeed Denmark Could Be Next | @TomlinsonCJ

Brexit Is a Bad Trade: U.K. trade policy would become a mess if the country leaves the EU. [with CARTOON GALLERY] | @ChadBown

Yen Soars As Markets Dive On Brexit Worries | @Investingcom

Pound Judgment Day Means Either Drop to 30-Year Low or 6% Rally | @aragaomarianna @Josh_A_Robinson

Brexit Could Be So Bad It’s Good for the Pound – Eventually | @is_fink

David Cameron’s Brexit threat to pensioners is a new low | @FraserNelson @spectator

Massive swing in UK to Brexit: poll | ARNAU BUSQUETS GUÀRDIA @POLITICOEurope

UK voters back Norway-style Brexit, poll reveals | @Pete_Spence

Trauma of SNB Haunts Currency Traders Planning for Brexit Vote | @chiaraalbanese @stespezzati

If Britain Leaves the EU, Paris Wants London’s Business | @FeargusOSull

This is an ex-project – John Cleese blasts EU and backs Brexit | @heraldscotland

Sam Cam – I’m in for my kids: In her own words, the PM’s wife delivers a Brexit broadside and says she won’t gamble on her children’s futures

Corbyn reveals the real reason he’s been so ‘silent’ on Brexit | CARLYN HARVEY @TheCanarySays

EU referendum: Sir James Dyson backs Brexit as Leave opens up poll lead | @robindepeyer @standardnews

CEO of @Unilever @PaulPolman talks to @JonSnow @Channel4News about how Brexit could hit the price of ice cream

Stephen Hawking, @Lord_Sugar, … | @StrongerIn

Brexit Countdown | @FT

“Deliberately Overblown” Brexit Fears Backfire | Tyler Durden @zerohedge

Leave: ‘We can rebuild the fishing industry outside EU’

Nine in ten fishermen will back Brexit, survey suggests | @DanSmatterings

Brexit Would Hand U.K’.s Trading Fate to Others | @StephenFidler1
– Outside the EU, Britain could find many countries weighing in on its trade arrangements –

Why Brexit Doesn’t Necessarily Mean a U.K. Recession | @CharltonEmma

Investors pull £65bn out of UK in two months | @ValRome0 @FundStrategy

Britain needs EU in fight against terrorism, warns former spymaster | @NortonTaylor

Brexit likelihood has increased, but Remain is still favourite | @MattSingh_

An even earlier Brexit had far worse consequences | @darrendodd

Yes or No, Brexit has already changed the UK | Rayhan Chouglay @risk_insights

Euroskepticism Beyond Brexit | @bruceestokes
– Significant opposition in key European countries to an ever closer EU –

Brexit and Scottish independence: Does campaign information actually change voters’ minds during a referendum? | @dmorisi

Brexit would be death knell for British influence in the world | @CatherineGegout @NottsPolitics

Central Banks Fear Trouble Ahead as Brexit Stress Goes Global | @endacurran @simonjkennedy

Poll reveals possible Brexit boost after Nigel Farage proved more convincing than Cameron | @ZoieOBrien_
– HE has been shunned from the official Leave campaign but Nigel Farage may well have given Brexit a boost last night ahead of the EU referendum. –

Anthill2: Brexit special – Prof Paul Whiteley @uniessexgovt talking economics, immigration and identity [Podcast] | @ConversationUK

More on the Bookies Odds of BREXIT | @DavidNFBell @ScotFES

So Just How United Are SNP Supporters on Europe? | @whatukthinks @WhatScotsThink

Blair Sees U.K. Rejecting Brexit as He Attacks Boris Johnson | John Micklethwait, @RobDotHutton

The EU is an outsized behemoth beyond reform – the Green case for Brexit | @GreenJennyJones
– This top-down dogmatic project promoting endless industrial development and growth doesn’t fit with the Green vision of a future lived on a more human scale –

On Brexit, Banks and Bargains | Philippe Brugere-Trelat

https://mobile.twitter.com/StrongerIn/status/732177616459927552

https://mobile.twitter.com/matt/status/741547446422110208

https://mobile.twitter.com/StewartMcDonald/status/741935972506558464

Employment and the ‘EU’: Are you voting for ‘Brexit’ or ‘Brita-in’?

‘Brexit’ Vote Looms As Sides Squabble Over Whether To Leave EU

U.K. イギリス Vol.3(”Brexit”?? – UK’s Referendum on EU Membership イギリスEU残留国民投票 Vol.2)

Here is just a part of articles/videos concerning the Brexit on Twitter on 6 June (BST).

Pro-Europe MPs could defy Brexit poll victory | @michaelsavage @elliotttimes @BrunoBrussels
Pro-Europe MPs could defy Brexit poll victory | @michaelsavage @elliotttimes @BrunoBrussels

Pound plunges as polls point to Brexit momentum | @oliver_wright
Pound plunges as polls point to Brexit momentum: Cameron urges voters to register as Leave camp surges ahead | @oliver_wright
– Cameron urges voters to register as Leave camp surges ahead –

Brexit would not make £8bn available for the NHS | @TheIFS
Brexit would not make £8bn available for the NHS | @TheIFS
Michael Gove

Farage: Brexit Would Be ‘First Domino’ In Disintegration Of EU | @BreitbartLondon

Economics of Brexit | @JacobReesMogg @SkyNewsTonight

Leading bookmaker Coral has slashed the odds on the UK voting to leave EU | Robert Kellaway
– A LEADING bookmaker slashed the odds on the UK voting to leave EU after political punters continued to show their support for Leave. –

Pro-EU MPs could stage guerrilla campaign to reverse Brexit decision | @patrickwintour
– MPs could initiate ‘reverse Maastricht’ to minimise number of EU laws the UK pulls out of, or push for a second referendum –

Brexit would leave EU less liberal, less Atlanticist | @ReutersAyataylo

Sterling falls after polls suggest growing Brexit support | @andrewwalker167

UK EU referendum | @NCPoliticsEU

Brexit huge risk for German economy | @Isabel_Schnabel @winterbiz @dw_business

Will the UK leave the EU? Keeping track of the polls, bookmaker odds, and the financial markets |‏@Pete_Spence

Brexit Lords have a cheek to complain about EU democracy | @nick_clegg
– It is ridiculous for a group of unelected British peers to criticise the lack of accountability of EU institutions –
[Excerpt] …With more than 800 members, the House of Lords is only second to China’s National People’s Congress in size and is about as undemocratic: unique in Europe, its members can revise and amend the laws of the land without anyone actually being elected…
Yet this obvious inconsistency appears to have escaped Lord Lawson et al when they berate the EU as “profoundly undemocratic”. I find what they do every day in the House of Lords profoundly undemocratic too.
Similarly, Boris Johnson, Michael Gove, Chris Grayling and the other Brexit ministers appear to be entirely untroubled that they serve in a Government that garnered no more than 24 per cent of the eligible vote…
… It took the EU almost 30 years, for instance, to agree a common definition of chocolate … A body that takes three decades to define chocolate can be described as many things — not least slow and bureaucratic — but an undemocratic conspiracy is hardly one of them…

@SirJohnRoyMajor on Brexit | @StrongerIn

Conservatives will stand up for Britain if the EU lets us down | @SteveBakerHW
[Excerpt] …David Cameron has been spectacularly successful in Europe. No other Prime Minister has secured a cut in the European Union budget.

Poll gives Brexit campaign lead of three percentage points | @DanielBoffey
– Opinium survey suggests remain camp has lost four points in two weeks, as Boris Johnson prepares to campaign on security –

Brexit and the union: Tug of war | @TheEconomist
– Brexit could lead to a second Scottish independence referendum. But the place to fret about most is Northern Ireland –
[Excerpt] …Remainers have tried to use the Scottish card to strengthen their hand in England by warning that Brexit would trigger a second independence referendum which…a resurgent Scottish Nationalist Party (SNP) might win…
…a month ago it lost its overall majority in the Scottish parliament… And even if she were able to call a second referendum, Ms Sturgeon cannot risk it… The example of Quebec suggests that two lost votes…for decades…
…Oil prices are half as high as then, so an independent Scotland would face even bigger economic and fiscal difficulties. After Brexit, the EU might be more welcoming to a Scotland seeking membership, but it would still object to its keeping the pound instead of adopting the euro. And if a post-Brexit United Kingdom ended free movement of people from the EU, that might mean erecting a border between north and south…
…Farming matters more in Northern Ireland than on the mainland, and it depends more on EU subsidies. Links to Ireland are crucial: it takes 34% of Northern Irish exports…
Ireland is the EU country most worried about Brexit. Irish ministers regularly state their opposition… Britain is Ireland’s biggest export market, and… Dublin to London is the world’s second-busiest international air route…

U.K. イギリス Vol.2(UK’s Referendum on EU Membership イギリスEU残留国民投票 Vol.1)

イギリスのEU残留国民投票(6/23)は、“Why the UK should stay in a reformed EU” 首相と国民との対話集会 でのキャメロン首相の定性的な主張の大筋のとおり、統計の精緻な分析に基づき定量的な説得力を持たせるというのが困難な性質のものかと考えられます。

確かに、EU非加盟国であるノルウェー(参考:Norway & EU & EEA)が国民一人あたりいくら払ってEU市場に入り、いくら売り上げていくら利益が出ている、EU加盟していればそれぞれの額はこうなっている、などと聴衆に訴えられればベストであったとは考えます。しかし、上記性質に加えて、そもそも本来的には、現状をひっくり返すと良くなる点を具体的・明確に示す証明責任はひっくり返したい離脱派にあり、できなければ “論理的には” 離脱派の負けです。
とは言え、政治・投票ですから、論理的或いは科学的に正しい方が勝つとは限りません。そこで、その点を大いに考慮してだと思われますが、あくまでこのビデオ二回と今まで部分的に見た他の映像による個人的印象としては、今まで対峙した各党党首等より非論理的にムードで訴える点でも勝っているように感じます。

今月どのような動きになるか、そして、投票後に投票結果が及ぼす波状的・連鎖的影響も、適宜追って参ります。〔リンクは全てEnglish。UK’s referendum on EU membership | Department of Foreign Affairs and Trade, Ireland に残っている文書も参考になります。〕

“The Creation and Destruction of Value” 価値の創造と破壊 Vol.4

(All the below links are in English.)

Vol.4 第2章-2  

 他方、1931年のdisasterでは、容易な解決策は無かったが、ハイパーインフレーション(参考:In today’s debt crisis, Germany is the US of 1931 | @flindner23)などを引き起こした愚策の後の銀行のバランスシートの悪化が原因であると明白であった。メガバンクが崩壊した欧州が、小規模地域銀行が主体の米国での不安を煽って、崩壊に導いたと言える。
 一つの解決策としては、1944年のブレトンウッズ会議(参考:Establishment of the Bretton Woods System | @AtlantaFed)での中心的議題であった、逆行しているカネの流れの封じ込めがあったが、民主主義の時代には難しかった。
 もう一つは、1930年代にゴットフリート・ハバーラー(Gottfried Haberler (by @mises))など何人かから指摘された、固定為替制は通貨危機に対して脆弱であるので、為替変動制に移行することであったが、金融制度の未発展国の国民は自国では自国通貨を長期的に調達することができず、常に為替変動リスクに晒されるというものである。尤も、21世紀初頭には、1929回避のための通貨政策と共に、1931回避のための金融機関なども整備されてきた。

U.K. イギリス Vol.1

イギリスは何と言っても、アメリカが握る前の時代に世界の覇権を握っていた国。今でも、英語という世界第一言語を筆頭に、英連邦(the Commonwealth、参考:realms(英語))やイギリス文化などの様々な遺産を有し、経済力・人口・国土面積それぞれ強大ではないものの大きな国際的影響力を維持しています。積極的な貿易や地域間交流などに加えて、EU残留国民投票(6/23、参考:英ポンド見通し(日本語))前後の政治経済情勢など国際政治に係る動静や思考も追い少しずつ掘り下げて参ります。 標題『イギリス Vol._』とは異なる場合も含めて、記事や報道なども適宜ご紹介します。その際、〔以下リンク:原則、English。Welcome to GOV.UKから政府各省や大使館などへ繋がっています。〕

在日イギリス大使館(日本語)、@UKScienceJapanBritish Chamber of Commerce in Japan 在日イギリス商工会議所Foreign & Commonwealth Office イギリス外務英連邦省UK Trade & Investment イギリス貿易投資総省@UKTIJapan(日本語)、Department for Business, Innovation & Skills イギリスビジネスイノベーション技能省@UKSINetDepartment for Transport イギリス運輸省Department of Energy & Climate Change イギリスエネルギー気候変動省Department for Environment, Food & Rural Affairs イギリス環境食料農村地域省@walesoffice ウェールズ省@UKGovScotland スコットランド省@NIOPressOffice 北アイルランド省Her Majesty’s treasury イギリス大蔵省Bank of England イギリス中央銀行Prime Minister’s Office イギリス首相官邸Confederation of British Industry イギリス産業連盟、地方公共団体(EnglandWalesScotlandNorthern Irelandの各リストなど)・商工会議所(英国商工会議所 British Chamber of Commerce(日本語)など)、
@MatthewRycroft1 イギリス国連大使@BraithwaiteUKUN 在ジュネーブ国際機関イギリス政府代表部特命全権大使@UKMissionVienna 在ウィーン国際機関イギリス政府代表部特命全権大使@ukineu EUイギリス政府代表部@UKDelCoE@UKOSCE@UKNATO NATOイギリス政府代表部@UKOECD OECDイギリス政府代表部
@DChilcottFCO イギリス駐アイルランド大使@KimDarroch イギリス駐米大使@HDrakeUK イギリス駐加大使@MennaRawlings イギリス駐豪大使@JWRSinclair イギリス駐NZ大使@maritimeuk@SocMaritimeInd@BMCF_UK@ukshipping@ScotMarineInst@Arctic_Office@BAS_News@rbthUK@ICT_FRANCE_UK や他の公共機関、大学・研究機関・専門機関、企業・団体、新聞などの情報も拝見しながら、関連事情を随時総合的に把握する所存です。