Claims that the trade deal will improve growth are unconvincing. It was a deal done for corporate interests over the heads of the American peopleTrade deals seem to delight in a special status among economists. While they are happy to use the economic toolbox to steal apart policy proposals on minimum wage,financial regulation or nearly anything else, for some reason they don’t like to use standard economic tools when it comes to the impact of trade deals like the Trans-Pacific Partnership (TPP).
There was no shortage of economists who were prepared to ridicule Donald Trump’s claim that his tax cut proposal would lead to 6% annual GDP growth. But where are the economists who will ridicule the Obama administration’s claims that the this current trade deal will lead to more rapid growth?Continue reading...
Source: theguardian.com