Trans Pacific Partnership: Corporate Escape From Accountability

Paul Craig Roberts, Contributor
Activist Post

The TPP has been called a “one-precentor” power tool. The agreement essentially abolishes the accountability of foreign corporations to governments of countries with which they trade. Indeed, the agreement makes governments accountable to corporations for costs imposed by regulations, including health, safety and environmental regulations. The agreement gives corporations the right to make governments pay them for the cost of complying with the regulations of government. One wonders how long environmental, labour, and financial regulation can survive when the costs of compliance are imposed on the taxpayers of countries and not on the economic activity that results in spill over effects such as pollution.