The Size of Things to Come & Unionism Needs a New Story
Recalling the collapse of RBS, Tyler Cowen suggests that Scottish independence might not be such a nifty notion: The conceptual point is simple. If you think that the world is now more prone to financial crises (and I do), the optimal size for a nation-state has gone up. Risk-sharing really matters. That’s a pretty widely-held view and it is not, I think, wholly coincidental that Alex Salmond discovered* the apparently unlimited potential of renewable energy at roughly the same time banking began to seem a less useful foundation for future prosperity. Risk-sharing**, however, is at the heart of it. It was the main reason why the SNP became a