Portside

The argument against Sanders is that the one "comparative advantage" poorer countries have is their supply of low-wage workers, so use of sweatshop labor to produce for export is the best way for these countries to expand their economies. And it works, global trade has been "the driving force behind historic declines in poverty," in Weissmann's words. Sanders' call for higher wages and better environmental standards stymies progress for these countries.

The secrecy surrounding the text of TTIP is revealing. Anyone who wants to enhance environmental protection, consumer protection and labor standards would have nothing to fear from transparency. Anyone who’s engaged in selling out democracy, on the other hand, is obviously going to want to avoid public scrutiny.

How transatlantic regulatory cooperation under TTIP will allow bureaucrats and big business to attack the public interest.

Of course we need international trade negotiations and agreements. But, they must be arrived at via inclusive, democratic, open, and transparent processes. They must be designed to reinforce the security and dignity of the world’s peoples and environmental sustainability.

Economist Jared Bernstein recently sat down with Capital & Main to offer his perspective on a wide range of political and income-inequality topics. Formerly a top advisor to Vice President Joe Biden and, currently, a senior fellow at the Center on Budget and Policy Priorities, Bernstein spoke to us again, following the U.S. Senate vote to fast-track the Trans-Pacific Partnership. The interview has been edited for brevity and clarity.

If not, we must stop the Trans-Pacific Partnership before it does more damage to our country.