Niall Ferguson says the analogy of Brexit being an expensive divorce has played out, but that it now also feels like a student asking a professor for an extension on their paper.
He isn’t particularly optimistic about the EU saying, “I don’t think the future of the European Union is especially bright without Britain.”
Ferguson, a senior fellow at Stanford’s Hoover Institution, goes on to explain how the issues of immigration and the lack of a fiscal union are making the EU “sick”.
Niall Ferguson, a senior fellow at the Hoover Institution, says he thinks a recession in 2019 is unlikely if inflation stays in check, gives his opinion on how the 2020 election will pan out, and talks about how to improve the state of our economy.
"It's certainly way too early to start writing the obituaries on the Trump presidency," he says.
Ferguson emphasizes the impact new technologies will have on workers and how reforming education could help spur the economy in a better direction.
"It depresses me how little discussion there is, in America today, of education," he says. "It has become the invisible topic in policy debates."
Watch the video above to hear more from Niall Ferguson about the next recession.