What would Britain leaving the European Union possibly have to do with Donald Trump’s popularity? Some are speculating that it shows a rise in popularity for populism — and Donald Trump certainly is a populist (albeit, the first populist with a butler).
Economist Art Laffer thinks the same. Laffer is best known for his contributions to supply side economics during the Reagan years — and even gets referenced in Ferris Bueller’s Day Off by Ben Stein’s character. According to the Daily Caller: Art Laffer says that Britain leaving the European Union is another signal that Donald Trump will become president.
Appearing on Fox News’s “Your World” with guest host Maria Bartiromo on Friday, Laffer said that he thinks America is heading towards Reagan, Margaret Thatcher economics.
“Things are similar to where they were in 1979, 1978, 1980. And frankly, the pressure is in all areas, it’s not just immigration,” Laffer said. “It’s bad economies, it’s all sorts of pressures, regulations, restrictions and with that being the background, I think you’re seeing the first shot fired with Brexit. But you’ll see a lot more coming.”
“I think this will lead to a Donald Trump presidency, ultimately and a lot of prosperity for the world,” Laffer said. “I’m very excited about what’s happening.”
Laffer said, “I expect [Trump] to reach out to the UK totally. I can’t imagine him not wanting to do that. And especially given the way Britain has responded here to Cameron and to Gordon Brown and all the bad economics, bad thought, bad regulations. They’ve just told him enough is enough already.”
Will he be right? The odds against Britain leaving the EU were three to one — maybe we’ll be surprised again in November.
[Note: This post was authored by The Analytical Economist]