Wednesday, April 9, 2014

The Trans-Pacific Partnership: Is Democracy Bad for Business?

Sometimes corporations and democracy can come into conflict.  The Trans-Pacific Partnership is an example.  The proposed treaty is controversial because it would give corporations the right to overturn national regulations.  This would actually formally elevate corporate power above sovereign democracy.

Basically, democratically elected leaders could no longer regulate their own country.  An unelected, international panel of experts would do that. And if any country manage to pass regulations that impacted a business, it would be assessed a fine.

Those in favor of the TPP argue that it would allow American competitiveness in emerging markets by extending patent laws, among many other details (more info in the links below).  Their overall point is that national regulations are misguided and damage corporate competitiveness which slows economic growth and prevents rising living standards for all.

Articles below require sign in with Texas State ID.

Anti-TPP article

Here is a pro-TPP article.

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