Stiglitz: TPP Is an Anti-Democratic Law For the Benefit of Corporations, Not a Trade Agreement

Jon Blogosphere, Civil Unrest, Corporate, Economy, Government, Market Commentary, Politics

When you have corporations having a very short-sighted view, paying their CEOs such outrageous monies with less money spent on investment, of course you’re not going to make long-term investments that are going to result in long-term economic growth.
And at the same time, there’s going to be less money to pay for ordinary workers. And paying that low wages to ordinary workers, not giving them security, not giving them paid, you know, family leave, all that results in a less productive labor force.
So what we’ve done is we’ve actually undermined investments in people, investments in the corporation, all for the sake of increasing the income of the people at the very top. So there’s a really close link here between the growing inequality in our society and the weak economic performance.’
Joseph Stiglitz

This post was published at Jesses Crossroads Cafe on 15 NOVEMBER 2015.