A British exit from the EU would wipe as much as £6,400 (€8,144) from average household incomes in the UK as trade deals sour, according to research by the London School of Economics.

If you are worried about the Western middle class — and we all should be — you may have started to have some doubts about the virtues of flexible labour markets.

Academics can be dismissive of the concerns of the popular media. But when it comes to the growth of the super-rich, the tabloids may have gotten it right.