Book of the week: Heroic Failure
Book review: Brexit and the Politics of Pain Irish writer Fintan O'Toole examines what Brexit reveals about Britain.
Brexit and the Politics of Pain
Head of Zeus, £11.99
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
There has been a flood of books on Brexit, but most have focused on what Brexit means for Britain's future. Heroic Failure takes a different path by focusing on whatBrexit reveals about Britain. The book is also notable in that its author is an Irish journalist, not a domestic politician or pundit. O'Toole argues our Brexit woes are not really much to do with the European Union, but rather a symptom of the desires and neuroses within our national character, as well as a howl of rage at the political establishment.
The Leave campaign's success was a result of its tapping into our long-standing insularity combined with national paranoia about foreign occupation, says O'Toole. That we are so obsessed is shown by the success of books and television series set in a Nazi-run Britain, he argues.
This leads him to wonder whether many Brexiters oppose Europe just so they can live out a long-held fantasy of beingpart of an underground resistance. The perceived loss of national and regional identities within the UK itself also played a part. Polls show those who identified as "English" mostly voted to leave, while those considering themselves "British" voted to stay.
The Remain campaign's emphasis on the economic costs of leaving the EU, on the other hand, overlooked the fact that the British have always secretly preferred heroic failure to success, as shown by our fascination with the Charge of the Light Brigade and Scott of the Antarctic. Sarah Vine's joke to her husband Michael Gove, that "you were only supposed to blow the bloody doors off", was particularly telling. The Italian Job (the source of Vine's quote) deals with a British attempt to raid Europe that ends on a literal cliffhanger that is impossible for the characters to resolve satisfactorily.
O'Toole makes some interesting points, but his argument ends up descending into caricature. Although Britain spurned the opportunity to become a founder member of the European Community, for example, it still spent a huge amount of money keeping western Europe safe from the threat of Russian invasion throughout the Cold War. And while the citizens of the remaining 27 countries don't want to leave the EU, they
are generally opposed to any further integration (which is why Britain's exit is also a tragedy for them).
Still, it's always refreshing to get an outsider's take on political events. The book provides an original perspective on a topic that has dominated British politics for the past couple of years, and looks set to continue do so for some time yet. It is also an entertaining read that will at times have you laughing out loud.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
-
Working from home: is it working?
While Labour plans to make working from home the legal default, some employers are calling workers back into the office. What does the future hold?
By Simon Wilson Published
-
International Investment Summit: will the government's growth plans boost investor portfolios?
News The government is looking to attract investment into UK projects. We explain what this could mean for your money
By Marc Shoffman Published