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TTIP: International Mega-corporations prevent social and ecological globalization

In the reality of international monopolist competition, narrow economic profit interests dominate to the disadvantage of broad prosperity gains. Protection of foreign mega-investors before indirect expropriation leads to a dispossession of nation state democracy. The losers are employees, customers, the environment and the public sector.

[This article is translated from the German publication on the Internet: TTIP: Internationale Megakonzerne verhindern die soziale und ökologische Gestaltung der Globalisierung. Rudolf Hickel is an economist at the University of Bremen]

The planned "Transatlantic Trade- and Investment Partnership" between the US and the EU is intensely controversial. The abbreviation TTIP (Transatlantic Trade- and Investment Partnership) already appears on placards not only of globalization critics. Two positions face one another rather irreconcilably. The supporters of a deregulated free trade emphasize the prosperity gains for everyone through falling prices, more economic growth and new jobs. The critics of this globalization with melting labor-, consumer-, social and ecological minimum standards fear international conglomerates gaining power against the protection of consumers and employees.

From my earlier diary - TTIP Treaty to be Signed - Super NAFTA Undermines Democracy.

Global Warming - distance between America and Europe is steadily increasing.

by Oui on Wed Jul 2nd, 2014 at 09:29:56 AM EST

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