CEPR - Center for Economic and Policy Research


En Español

Em Português

Other Languages

Home Publications Blogs Beat the Press NYT Misrepresents Trade Pacts

NYT Misrepresents Trade Pacts

Wednesday, 17 November 2010 05:11

The NYT referred to the trade pacts with South Korea, Panama and Colombia as "free-trade" agreements. Of course this is inaccurate. They do not free all trade, most notable trade in highly paid professional services like physicians and lawyers' services. These areas are highly protected by conscious policy. The deals also increase protection in some areas, most notably for patents and copyrights.

Trade pacts have been unpopular with much of the country because they have been designed to place manufacturing workers in direct competition with low-paid workers in the developing working, thereby driving down their wages. By contrast, they have largely left in place the protection from such competition enjoyed by the highest paid workers. As a result, they have contributed to the growth of income inequality in the last three decades.

Comments (6)Add Comment
with friends like Perot...?!
written by frankenduf, November 17, 2010 8:23
ah, i weep for the lack of a viable 3rd party- this would have been the perfect time for a Nader 3rd party insurrection- but nooo- all the gas tryna build a third party was spent in the olden days, where Perot got 19% of the vote, simply by pointing out "that giant sucking sound"- well, the corporate media has always turned a deaf ear to that sound, and we're mired in 10% unemployment, with the one party corporate duopoly further entrenched...
written by Vince, November 17, 2010 8:26

Lawyer services continued to be outsourced overseas, particularly to India. Given your penchant for accuracy in reporting, you should at least acknowledge this when writing about "free trade" and lawyer services.
Free trade pacts are meaningless w/o free currency exchange
written by Paul, November 17, 2010 8:29
Until SoKo stops manipulating its currency peg to the dollar, the U.S. should not adopt any free trade pact.

Interesting that the G20 lambastes the U.S. for "debasing" the dollar with QE2 while conveniently ignoring the blatant currency manipulation that SoKo, Japan and China engaged in constantly.
written by izzatzo, November 17, 2010 8:43
Ross Perot here. I have some charts. You people ... you people just don't understand competition ... doctors and lawers compete on quality, not on price.

That giant sucking sound I was talking about was about all those inferior doctors and lawyers with low productivity, the ones who can't keep their economic rents up ... you people.
written by diesel, November 17, 2010 10:58
Frankenduf Can America generate a sustained third party (or forth or fifth) without abandoning winner take all elections? Don't we need a system of proportional representation? One that would render votes for smaller parties viable (and not an exercise in futility) because of the possibility of sharing power through coalition governments?

What incentive would Congress have to legislate the demise of their present system of patronage? Only a Constitutional Convention of the States could break the lopsided control held by our "duopoly".

And while they're at it, they may as well eliminate the non-democratically-proportioned Senate and the philistinabuster. Fat chance.
written by liberal, November 17, 2010 11:05
diesel wrote,
Frankenduf Can America generate a sustained third party (or forth or fifth) without abandoning winner take all elections?


Write comment

(Only one link allowed per comment)

This content has been locked. You can no longer post any comments.


Support this blog, donate
Combined Federal Campaign #79613

About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.