I very much doubt that the majority of leave voters (or remain voters to be fair) would have any idea who Adam Smith is at all. And most would only know Marx as that Corbyn chap was into him....
There are a lot of crafts/small business that could do well alongside technology, but they can not compete on price
I make specialist stuff. 98% ish goes for export. (as in about 1 in 50 sales are to uk customers)
The exported goods are split about 50:50 between the EU and the rest of the world.
My customers are mostly not VAT registered. As most of my final price is labour, i am deliberately and legitimately also not vat registered.
So, 49% ish of my sales are exported to the EU, and now those EU customers are suddenly, if i fill out the paperwork correctly, going to be looking at a price thats 20% higher than it was last week.
But its not really going to be 20% higher at all, as then there will be processing, and VAT on the processing. So, assuming the processing charges are similar to those we suffer, my price in the EU will actually be 50% higher than it was last week.
What is that going to do for my competitiveness, i wonder?
But, I'm told, there will be advantages to leaving the EU. Just no one has been able to tangibly tell me what just yet. Something about less illegal immigrants and more money for the NHS.
My old man voted leave. He is only alive as some chap with brown skin and a funny accent chopped half his pancreas out. So that one was ok, but, still, we cant support all this immigration, right...
He was shocked when he called up on new years day and my partner explained to him that i was a little bothered about the whole situation.
"But there's no duty" he said, with ignorance of the actual impact to small business exporters.
Most small business start small (the clue is in the name, really). If they have anything to do with exporting their goods to the EU, the whole VAT thing is going to be a real hinderance from the start.
The easiest way to stop small businesses from becoming those big "world beating" businesses is kill them off when they are small.
But, honestly, when have the Tories ever really cared about anyone other than those at the fatter end of the stick?
"But we can get rid of VAT now we are not dictated to by the EU"
The Tories hate VAT, obviously, what with it being a regressive tax - they demonstrated their hate of it by raising it from 15-20% since taking power.
Going back to -
This is the problem. I mean who amongst us wholly understands Quantitative easing, and its effect on the asset market? I mean i have an interest in this stuff, and couldn't pretend to give more than a very patchy summary.
So, going back to my previous post, not only is downright indisputable lying to the populous now acceptable, but also most people just dont understand the actual mechanics of any of these things. My old man isnt a total idiot, but the whole VAT thing just had not even registered with him. And he knows his son exports to the EU.