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In reply to the discussion: Stop Calling the TPP A Trade Agreement – It Isn’t [View all]DanTex
(20,709 posts)24. Frantic, what? This doesn't need to get personal, does it?
The word "capital" is used in multiple ways in economics. One is the one you described, which is a factor of production. But when discussing international trade, and particularly "movement of capital", the financial definition is much more common. If you talk to any economist, they will be familiar with the both meanings of "capital". For example "undercapitalized banks" aren't banks that don't have enough office buildings to house their employees, they are banks that don't have enough cash and liquid assets. "Capital controls" are controls on movement of cash and financial instruments, not on the movement of buildings and factories. Etc.
It's a bit surprising that this is the first time you've come across this usage of the term.
And that is the kind of "free trade" that the TTIP is about -- the kind that would strike down environmental regulations as barriers to trade.
This is debatable, but now you've completely changed the subject. The OP wasn't talking about environmental issues, it was claiming that allowing certain manufacturing industries to move production to countries where it is cheaper is not "free trade." Which is plainly false.
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Yes, that's the macroeconomic definition of capital, and while it is used that way in
DanTex
Jun 2015
#19
1. enough has been leaked for us to see it's no good. The ISDS chapter alone is enough.
magical thyme
Jun 2015
#6
80% of the GDP covered by the TPP is already covered by "free trade" agreements.
jeff47
Jun 2015
#11
"Free trade" is actually privatize profits - socialize costs/losses...
Dont call me Shirley
Jun 2015
#20
Only in the sense that the EU Charter and the US Constitution were 'free trade agreements'.
pampango
Jun 2015
#17
This works in the US because we Are ONE nation, tpp involves many sovereign nations with
Dont call me Shirley
Jun 2015
#21
The EU is composed of many nations but it was created along "FDR" principles - strong unions,
pampango
Jun 2015
#22
The EU generally lifted all boats. The TPP is created only to lift the yachts of the rich...
Dont call me Shirley
Jun 2015
#25