Nobel prize winning economist Joseph Stiglitz has come out in opposition to the president and his oft-endorsed trade deal the Trans Pacific Partnership, arguing that it helps only corporations, not regular people.
Stiglitz joins a growing group of progressive, pragmatic Americans who see that the TPP and its predecessors only benefits giant conglomerations, leaving hard-working Americans in the dust.
Said Stiglitz: “The advocates of trade said it was going to benefit everyone. The evidence is it’s benefited a few and left a lot behind.”
The economist’s strong stance is key in this moment as even now, Obama is trying to figure out a way to get the TPP passed before he leaves office. Both presidential candidates oppose the trade bill, so unless they flip-flop, Obama is the only one who can get the bill passed.
Stiglitz says it’s not just the TPP he opposes. Much like Senator Bernie Sanders, the economist believes that NAFTA was a “big mistake” and would like to see that trade deal changed or abolished.
According to the award-winning economist, both the TPP and NAFTA fail to protect workers worldwide, and offers no protections to intellectual property, a major concern.
One has to wonder why the president has been so adamantly for the trade deal, even as national opinion has shifted away from supporting the TPP. The president is meant to represent the wishes of his constituency, but once again, Obama seems to be willfully ignoring the calls of Americans to kill the bill and forget the TPP once and for all.