Having such a collection of bigots and boors opposing “globalization” may turn out to be a boon for those promoting globalization — that is, the laws that govern the global economy.This is unfortunate, since these laws — and the international trade deals that enforce them — have delivered benefits almost exclusively to those at the top in recent years, and should be thoroughly overhauled.
When you look at history and the evidence, there are good reasons to rebel against NAFTA and the proposed TPP deal:
There’s a litany of reasons why any sensible person would resist these trade deals.But the most outrageous aspect of them has always been the special set of legal rights they bestow on foreign corporations and investors. These rights — which go beyond anything that exists in domestic or international law — enable wealthy foreigners to sue governments over policies the foreigners don’t like, and to have their lawsuits decided by closed tribunals.Indeed, the TPP could open a floodgate of new claims by wealthy foreigners, according to a powerful report by Osgoode Hall law professor Gus Van Harten, released last month but ignored by the media.“With the TPP, many more such claims will become possible,” notes Van Harten, an expert in international law and investment treaties.The report documents how corporations and wealthy investors have taken advantage of the bizarrely generous legal rights available to them under NAFTA, suing Canada 39 times and winning more than $190 million in compensation from Canadian taxpayers. There is no cap on how high the compensation can be, and the vast majority of it goes to the ultra-rich – corporations with annual revenues over $1 billion and individuals with net wealth above $100 million.
With all their sound, fury and obfuscation, the buffoons are making matters worse.
Image: uselectionatlas.org
