“And if you compare 1950-1980 with 1980-2000, in terms of GDP growth in the US and many European countries, it’s been exactly the same. Yet between 1950 and 1980, people were living in pretty protectionist regimes and between 1980 and 2000 there was much more capital and trade flows. In addition, real wages have been relatively flat in the US and Europe, so taken together you have a question about whether globalisation, which is another great idea on paper, has actually worked in practice. Has it helped Americans? Has it helped the British people?”