The consequences of Britain leaving the EU have exposed the complexity of one country’s economic relations with its partners.

I have found Brexit rivetting. As a piece of Econ 101, it is straight forward. (OK, I simplify; it is rare for first year students to study in any depth the implications of intra-industry trade, supply chains, the economies of scale and of agglomeration in international trade.)  But first year economics courses teach little about institutional underpinnings.