I have, before, compared William Keegan to Nuggan:
First, let us be clear that it was not the recent collapse of confidence in the financial markets that threatened the Conservative party’s reputation for economic competence. That reputation was destroyed not by Truss and Kwarteng, but by the ill-judged decision to hold a referendum on our membership of the EU, and the calamitous consequences.
The Brexiters were not sovereign: the financial markets were.
Sigh again. Markets are always sovereign. As they should be of course. For markets are only the interaction of 7 billion people. It’s just folk doing what folk do. And the people are not only sovereign over what some baby kisser decides should happen, they should be so sovereign.
Failing to grasp that is an original sin of political economy.