Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

"The advocates of trade said it was going to benefit everyone," said Nobel laureate Joseph Stiglitz. "The evidence is it's benefited a few and left a lot behind." (Photo: UNIDO/flickr/cc)

Stiglitz Blasts 'Outrageous' TPP as Obama Campaigns for Corporate-Friendly Deal

Nobel laureate says Obama's push to get lawmakers to pass deal during lame-duck session of Congress is "absolutely wrong"

Andrea Germanos

Nobel Prize-winning economist Joseph Stiglitz has reiterated his opposition to the Trans Pacific Partnership (TPP), saying on Tuesday that President Barack Obama's push to get the trade deal passed during the upcoming lame-duck session of Congress is "outrageous" and "absolutely wrong."

Stiglitz, an economics professor at Columbia University and chief economist of the Roosevelt Institute, made the comments on CNN's "Quest Means Business."

His criticism comes as Obama aggressively campaigns to get lawmakers to pass the TPP in the Nov. 9 to Jan. 3 window—even as resistance mounts against the 12-nation deal.

Echoing an argument made by Center for Economic and Policy Research co-director Mark Weisbrot, Stiglitz said, "At the lame-duck session you have congressmen voting who know that they're not accountable anymore."

Lawmakers "who are not politically accountable because they're leaving may, in response to promises of jobs or just subtle understandings, do things that are not in the national interest," he said.

Expressing his overall objections to the TPP, Stiglitz said "corporate interests... were at the table" when it was being crafted. He also condemned "the provisions on intellectual property that will drive up drug prices" and "the 'investment provisions' which will make it more difficult to regulate and actually harm trade."

"The advocates of trade said it was going to benefit everyone," he added. "The evidence is it's benefited a few and left a lot behind."

Stiglitz has previously spoken out against the TPP before, arguing that it "may turn out to be the worst trade agreement in decades;" that it would mean "if you pass a regulation that restricts ability to pollute or does something about climate change, you could be sued and could pay billions of dollars;" and previously said that the president's TPP push "is one of Obama's biggest mistakes."

Stiglitz has also been advising the Hillary Clinton presidential campaign. The Democratic candidate, for her part, supported the deal before coming out against it, but for TPP foes, uncertainty about her position remains, especially since she recently named former Colorado Senator and Interior Secretary—and "vehement advocate for the TPP"—Ken Salazar to be chair of her presidential transition team.

Opposition to the TPP also appeared Tuesday in Michigan and Florida, where union members and lawmakers criticized what they foresee as the deal's impacts on working families.

Rep. Debbie Dingell (D-Mich.) said, "We have to make sure that bill never sees the light of day after this election," while Rep. Alan Grayson (D-Fla.) said at the American Postal Workers Union convention in Walt Disney World, "If this goes through, it's curtains for the middle class in this country."


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Don't Exist.

To Avert Debt Ceiling Calamity, Democrats Urged to Finally Kill the Filibuster

"The solution is to blow up the filibuster at least for debt limit votes, just as Mitch blew it up to pack the Supreme Court for his big donors."

Jake Johnson ·


Biden Decries 'Outrageous' Treatment of Haitians at Border—But Keeps Deporting Them

"I'm glad to see President Biden speak out about the mistreatment of Haitian asylum-seekers. But his administration's use of Title 42 to deny them the right to make an asylum claim is a much bigger issue."

Jessica Corbett ·


Global Peace Activists Warn of Dangers of US-Led Anti-China Pacts

"No to military alliances and preparation for catastrophic wars," anti-war campaigners from over a dozen nations write in a letter decrying the new AUKUS agreement. "Yes to peace, disarmament, justice, and the climate."

Brett Wilkins ·


PG&E Charged With 11 Felony Counts—Including Manslaughter—Over 2020 Zogg Fire

"PG&E has a history with a repeated pattern of causing wildfires that is not getting better," said Shasta County District Attorney Stephanie Bridgett. "It's only getting worse."

Brett Wilkins ·


'Hold My Pearls': Debbie Dingell Lets Marjorie Taylor Green Have It Over Abortion Rights

The Michigan Democrat engaged in a verbal altercation with the far-right Republican lawmaker from Georgia on the steps of the U.S. Capitol Building.

Jon Queally ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo