While there is a lot of finger pointing about the Brexit vote, there is a point to be made that the elites who support the EU and the Neoliberal agenda:

Over the past decade, elites broke the world, and were unrepentant about their failure. They created the conditions for the worst economic crisis in nearly a century, and made sure that their elite friends at the top would scoop up the post-crisis gains, stranding the vast majority of people. They decided their project of globalization and liberalization mattered more than democracy. Brexit is among the first tangible responses.

Yes, the victorious campaign to leave the European Union won on the basis of xenophobia and the demonization of immigrants. For anyone of a cosmopolitan bent it’s a terrible outcome. And those with long enough memories to remember the last time European nations broke apart instead of coming together will be pained by the outcome.

But if you tell people you know what’s best for them for years and years while their prospects wither and their lives are immiserated, at some point you should expect some kind of reaction. Practically all of the U.K.’s elites—including the leaders of both major political parties—supported remaining in the EU, and couldn’t convince enough of their citizens to go along. Democracy was the poison pill that halted the European project. And now, its architects have a choice to make: admit nothing is wrong with their abhorrent excuse for leadership and lose the rest of the continent, or change course and embrace the views of their citizens instead of ignoring them.

Consider how Europe acted after the 2008 financial crisis. They demanded balanced budgets and even surpluses from member countries that had no ability to both run them and provide for their citizens. They viewed every appeal from those countries, assembled mostly in southern Europe, as a personal affront. They turned a global recession into a morality play, so they could scold the weak sisters of the Eurozone as lazy slugabeds who deserved to suffer.

And they didn’t just do this out of spite: they explicitly wanted to empower multinational conglomerates at the expense of independent domestic producers. Last year’s list of demands for the Greek economy from the “troika” (the European Union, European Central Bank and the IMF) had little to do with preventing corruption and furthering economic opportunity. They were mostly about breaking the power of the local publishing industry, journalists, olive oil makers, mom and pop retailers, and so on. The goal was to make way for outside corporations and throw over the internal political and social culture.

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But you must pair that with the arrogance of the elites, both in London and Brussels, to the growing desperation in the countryside. The technocratic administration of policy in the EU is obtuse to the average Briton or Italian or Frenchman. They viewed democracy the way most people view mosquito bites, as a nuisance rather than a collective voice worth listening to. Euroskepticism grew amid this neglect. For all the talk of burdensome migration, Leave did best in rural communities with few, if any, immigrants. These are the cities and towns that lost out from globalization, where deindustrialization has wiped them out and left them flat. Anger at economic stagnation played as much of a role in Brexit as anger at faceless foreigners allegedly ruining British society.

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What Leave offers, a toxic stew of isolation and racism, isn’t any good either. But when elites spend this long doing nothing for large swathes of the population, they’re willing to listen to anyone with a different idea.

I would also note that these elites, with their “Rising Tides Lift All Boats” rhetoric have been consistently wrong for the past 50 years, and disastrously wrong over the past decade.

The rule by the “Technocrats” leads to not just undemocratic, but anti-democratic actions, and a complete lack of accountability.

This is how we ended up in our current state of affairs and how the EU ended up being run by people who are blithely wrong, because there are never any consequences to them or their policies when they are wrong.

The strength of democratic institutions is that if those making policy have screwed up badly enough, that they get tossed out and replaced.

Absent this, those in power will continue pursue failed policies, because they have no incentive to admit failure and fix things.