The truth about trade agreements

The Trans-Pacific Partnership (TPP) was originally titled "Southern Hemisphere Asian Free Trade Agreement" or SHAFTA. Reason for the name change should be obvious. SHAFTA succinctly defines its objective: Shaft America's middle class workers.

Many economists view free trade agreements very favorably. Unfortunately, they are considering such agreements as defined, not as implemented. As designed, such agreements are between, or among, nations; as implemented – e.g., NAFTA, CAFTA – they are agreements among global billionaire entrepreneurs and leaders of multinational corporations.

The effect of...