By William K. Black
June 5, 2016 Bloomington, MN
Proponents of the Trans-Pacific Partnership (TPP) know that they have a major problem. Bernie Sanders, Hillary Clinton, and Donald Trump each oppose the deal. CEOs, however, have not given up on their dream of being able to rig the international system through the creation of kangaroo tribunals that can, effectively, destroy effective regulation and the enforcement of rules to protect the public. As I explained in my most recent column on this subject, “trade” is simply the pretext for this assault on the rule of law and national sovereignty. President Obama plans to try to get the TPP approved by the lame duck Senate after the November elections. Outgoing officials no longer must fear (or respect the will of) the voters and they are eager to cash in on the corporate largess that will reward politicians that vote for the international CEO impunity deals.
By William K. Black
June 4, 2016 Bloomington, MN
When last we read Paul Krugman he was repeatedly demanding that Bernie Sanders cease criticizing Hillary Clinton for a lifetime addiction of taking tens of millions of dollars in political contributions and hundreds of thousands of dollars in speakers’ fees from Goldman Sachs and other business interests. (I am an economic adviser to Bernie.) While Professor Krugman consistently stressed that the data show that business campaign contributions do rig the system, Hillary Surrogate Krugman suddenly professed that business political campaign contributions and speaker fees have no corrupting effect on politicians.
Economists should be honest for all the usual reasons, but economists who wish to affect policy have an additional reason to embrace intellectual honesty. Karma means that an intellectually dishonest economist is likely to be promptly confronted by the desirability of telling the truth in order to prevent disastrous policy on precisely the subject he or she just lied about.