Two years ago, my colleague David Rosnick put out a paper that analyzed the impact of recent patterns in trade, based on research showing that trade both tended to promote growth but also worsen inequality by reducing wages for those at the middle and bottom of the wage distribution. The paper concluded that for large segments of the workforce, the inequality effect exceeded any benefits from overall growth, making them net losers from growth.
When has Obama ever let facts get in the way of any of his good stories ?
Watch how the moderator here uses that shaming and blaming and character assaults to also get around the actual NATURE of material. That IS the M.O. (modus operandi):
I agree, if it makes any difference to Mr. Baker, that the TPP is much more about corporate regulation than trade. Multinational corporations are more powerful than most States. They rule.
Goods are produced in low wage countries and sold in higher wage ones which gives the greatest margin of profit.
But is it fair to pay a worker less for making an identical product? How about a Chinese physicist making a small fraction of what his US counterpart earns? It seems to me, the problem is solved when we raise the world’s workers pay, over time, and stop taking advantage of a community’s economic circumstance. That is, pay a living wage to everybody worldwide.
Fair play is no longer a criteria and TPP makes it obsolete.