The Obama administration surely negotiated the TPP in good faith, and the accord would likely add to global and U.S. economic growth. This is not a pernicious accord, the fruits of a secret cabal as some have feared. Nor is globalization an evil to be fought tooth and nail. The sad truth, however, is that while the administration promised a 21st-century agreement, we have yet another late 20th-century agreement.
For more than a quarter century, Sachs, described by The New York Times as "probably the most important economist in the world," has advised governments around the globe on progressive policy. In the clip, he analyzes our own system in the U.S. and reflects on the fifth anniversary of the Citizens United Supreme Court decision.
The U.S. did not apply the knee-jerk capitalistic model of mobilizing competition. Had we succumbed to that model, the government might have offered grants and other incentives to encourage individual scientists, universities, private and publicly held companies to compete in a race to develop the bomb -- with benefits to the winner.