By Ferdi De Ville, Gabriel Siles-Brügge
The Transatlantic exchange and funding Partnership (TTIP) has stirred passions like no different alternate negotiation in contemporary background. Its supporters retain that TTIP will produce miraculous development and task production; claims which are wholeheartedly rejected by way of its critics, who regard TTIP as an immediate attack on employees' rights, healthiness and security criteria and public services.
In this incisive research, Gabriel Siles-Brugge and Ferdi de Ville scrutinize the claims made by way of TTIP's cheerleaders and scaremongers to bare a much more nuanced photo at the back of the headlines. TTIP won't offer an monetary 'cure-all', nor will it wreck the eu welfare kingdom in a single fell swoop. because of unheard of degrees of protest and debate round TTIP, notwithstanding, neoliberal alternate negotiations are good and really again within the highlight. during this recognize, TTIP may well good end up to be a 'game-changer' - simply now not within the approach imagined via its backers.
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Extra resources for TTIP: The Truth about the Transatlantic Trade and Investment Partnership
For example, we do not believe that TTIP will result (directly) in a deregulation bonanza that leads to the acceptance of chlorinated chicken or hormone-treated beef in Europe, but we do think there are a number of underlying concerns that should be taken very seriously. TTIP is being promoted by two sets of arguments. The first, which we tackle in chapter 1, is that it will bring much desired growth and jobs to the crisis-ridden economies of the US and, especially, the EU. A second narrative, the subject of chapter 2, is that a ‘transatlantic market’ would be an instrument to preserve the dominant economic position of the EU and the US and contain the geopolitical and geo-economic rise of China and other emerging economies.
This brings us to the politics of economic modelling. Economic modelling and the ‘management of fictional expectations’ In what way is economic modelling a political tool? While much has been said about economic discourses in political economy, far less has been said (at least by political scientists) about another powerful form of economic narrative, the ubiquitous use of economic modelling and forecasting. This may be because those working in the field of political economy have sometimes shied away from engaging with quantification and the specific insights of economists (Blyth 2009).
The extreme example of this is Nassim Taleb’s (2007) concept of the ‘black swan’, an event with dramatic consequences so rare and unpredictable (much like the discovery of hitherto unknown black swans by European explorers in Australia) that its occurrence cannot be inferred from past experience (cue reference to the global financial crisis of 2008). This assumption of fundamental uncertainty distinguishes such work from that of mainstream, neoclassical economists (as well as other rationalist social scientists) who assume that the economy (and society) operates according to well-defined and regular factors that can accurately and reliably be modelled and extended into the future.
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