Neo-liberalism and the TPP
by kmarsh on December 11, 2015 - 10:39am
Modern US History
Mark Cline Lucey
7 December 2015
While neoliberal free trade offers opportunities that individuals may not otherwise have access to, it allows government to have too much control over trade, increasing their power which results in decisions that only benefit nations as a whole, and the favors the interests of large corporations. We have already seen the effects of neoliberal global free trade; large corporations now have the opportunity to to export their cheaper goods to other countries, which means that the local producers of those same goods cannot match the price of the outside corporations, and they lose money. Another outcome we have seen is large corporations expanding internationally- agricultural giants come into rural areas and figuratively (sometimes literally) plowed over local farmers. Yet another example- outsourcing. Companies can now pay international workers to the same job as American workers for much less. Or they find that their product can overall be produced cheaper in another country, so they close the factory in the US, lay off the American workers, and open a new one abroad. As we have seen it, neoliberal free trade hands too much power to large companies, at the expense of the lower class.
The Trans Pacific Partnership further promotes this issue, and should not be put into action. Instead of giving the government even more power, we should revert back to a laissez-faire way of life. We should let the “invisible hand” bring about the greatest common good. If individuals are left to pursue their self interest, it will be the most beneficial. There will be no outside interference, there will be no decisions made at others expense (on the large scale previously stated). The inherent competitiveness of individuals will drive the process, and make it as successful as it can be. The only reason that this way of operating stopped was due to the Great Depression. Until the market crash, the invisible hand was running like a well oiled machine. Once the market crashed, everyone panicked, the government took control, and hasn’t let go since. If they can relinquish their power, we will all soon see the benefit.