First, of course, are the political implications. Second, these are millions upon millions of people who were voting against their pocketbooks. The third shock is more personal: my apparent over-reliance on the prediction markets, and on economists like Justin Wolfers…

Amid the refugee and eurozone crises plaguing continental Europe, Britain is deciding whether or not to remain in the European Union. But migrants and economics are only part of why many are pushing for Brexit. The crux of the issue,…