A strong European Union (EU) led by the Franco-German axis can spell economic trouble for the lone Britain and its erstwhile muse, America. The Americans may start flexing their muscles through their military might to make the EU toe the line. As a result, trade among nations will be decided by countries in an economic bloc. Is this the beginning of a New World Order?
The “dismal science” has indeed progressed very much since its inception. Human nature will determine how the science or arts of economics advances in the future. After all, the only laboratory available for economists to test the relevance of their theories is the practical world that people live in.