There is a common myth that "Voters don't vote with Economics, relying on this failed in Brexit and won't work for Scotland remaining in the UK"

Well, I think this is wrong. Brexit and Independence are viewed through very different economic prisms. A thread (1/8)

Economic models assume people are rational beings, weighing up complex maths to make decisions. Politicians sometimes think people act like this. They don't. People have heuristics and bias. They are loss averse, and value things they have more rather than things they don't (2/8)

People rely on mental accounting, people don't conduct complex Cost/Benefit analysis when making decisions. But why does this matter? Well people say the economic argument didn't stop Brexit it can't stop Independence. I think this is wrong (3/8)

The economic argument for Brexit relied on people internalising the differences. "Oh yes, my household would be £1,000 worse off because long run GDP would reduce by 0.6% a year which could potentially increase the price of goods" - People don't think like this. (4/8)

And even if they do, it is not widespread. It is theoretical and abstract. Leaving the UK however. People can see how they'd be worse off. Their savings would change currency in a bank. A new Government would pay pensions and benefits in a new currency. (5/8)

You'd need to fill in customs declarations to buy goods from England. Your mortgage rate would no longer be set by the Bank of England but a new Scottish Reserve Bank. You can see how much money it would cost, you'd notice the British army disbanding. (6/8)

It was hard for remain to argue Economic case for Brexit as voters wont notice it in their daily lives. Everyone uses money, everyone has income, everyone pays bills. The Economic problems for leaving the UK are tangible & if focus is given easily understood. (7/8)

This is the difference. The economic problems with leaving the UK can be easily explained and understood. The economic problems with leaving the EU are not easily explained and not easily understood. The case for Indy isn't over 50% and that's without focus on this reality. (8/8)

N.B: See "What currency do you want to use" vs "What's your preferred customs arrangements for trade with Europe"