Nobel-Prize-Winning Economist Condemns Obama’s ‘Trade’ Deals

‘The Nobel-Prize-winning former chief economist of the World Bank, and Chairman of the Council of Economic Advisers to the U.S. President, Joseph Stiglitz, went to England to warn the British public, and Parliament, that “no democracy” can support U.S. President Barack Obama’s proposed trade-deals, because all of these have a feature built into them, called Investor State Dispute Resolution, or ISDS, which will establish a supra-national authority that gives international corporations the power to sue any signatory nation that introduces new or increased economic regulations regarding product-safety, the environment, workers’ rights, or anything else that the corporation alleges lowers the corporation’s profits; and because these cases will be tried not in courts that are subject to the given nation’s constitution and laws, but instead by private three-person panels of mainly corporate lawyers, and their rulings will not be subject to being appealed within the given nation’s court system — the panel’s decison will be final.’

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