Joseph Stiglitz On The TPP

A very brief video, but a very important message about the dangers of the Investor-State Dispute Settlement mechanism that is a central part of the Trans Pacific Partnership, and something enthusiastically embraced, it would seem, by our 'new' government:

Will The Trudeau Government Ignore The Warnings?

As pointed out by The Mound, Joseph Stigliz has issued a dire warning to Canada about the dangers of the TPP (Trans Pacific Partnership); essentially, it will enrich the few at the expense of the many. As well, he has warned about two other grave dangers the pact poses for our country:

The controversial but not-yet-ratified trade agreement could tie the hands of the Trudeau Liberals on two key parts of its agenda — fighting climate change and repairing relations with aboriginal people, the Nobel-winning professor warned Friday.

During the recent World Economic Forum in Davros, he spoke to his old friend and now International Trade Minister Chrystia Freeland about his concerns, perhaps best summing up its impact on the daily lives of a great many working people this way:

... the deal benefits big business at the expense of working people, driving down the bargaining power of workers, including their wages.

Despite Freeland's openly-professed enthusiasm for another trade agreement, CETA, which carriess with it similar perils, one can only hope that she listens to her old friend with open ears and has influence with our new prime minister. So far, the signs are ambiguous:

Freeland’s spokesman Alex Lawrence said the government is keeping an open mind about the deal and is following through on its promise to consult widely with Canadians.

“Many Canadians still have not made up their minds and many more still have questions,” Lawrence said.

The House of Commons trade committee is studying the TPP — a process that Freeland has said could take up to nine months.
Lawrence said the committee would travel across the country as part of its outreach to Canadians.

After that, Freeland has promised that only a vote in Parliament would ratify the deal, which was negotiated under the former Conservative government.

When an economist of Stiglitz's stature speaks, none of us can afford to turn a deaf ear.

For a more detailed discussion of this issue, here is a Q&A with Stiglitz.

Joseph Stiglitz On Income Inequality

Nobel Memorial Prize-winning economist Joseph Stiglitz recently gave a powerful speech at the annual AFL-CIO convention in Los Angeles. Watching this video leaves one little choice but to feel a deep dissatisfaction with the status quo: