Why economists think
Partnership will be good
May 22, 2015- 12:15AM EDT
Discussing trade deals is generally about as exciting as
watching grass grow, but a huge new pact called the
Trans-Paoiﬂc Partnership is ﬁring up public opinion.
The deal, called TPP for short, involves the United States
and 11 other countries that together represent close to a
billion people and 40 percent of the world's economy. It's
a big deal, but critics says it's also a bad deal, one that
will hurt the average American.
Robert Reich, once Secretary of Labor under President
Clinton and now a professor of public policy at UC
Berkeley, breaks down the TPP in a two-minute video.
"If you haven't heard much about the Trans-Pacifio
Partnership, that's part of the problem right there It's
been devised in secret," he says in the video, "Lobbyists
from America's biggest corporations and Wall Street's
biggest banks have been involved, but not the American
That's pretty much the argument all critics make: TPP is a
bad deal for working people, written behind closed doors
by fat-cat corporations But talk to economists and you get
a different story. Almost invariably, they say, free trade
deals good for in society.