The Power Underpinnings, and Some Distributional Consequences, of Trade and Investment Liberalisation in Canada (Preprint)

The Power Underpinnings, and Some Distributional Consequences, of Trade and Investment Liberalisation in Canada (Preprint)
Brennan, Jordan. (2012). New Political Economy. No. iFirst. pp. 1-33. (Article - Journal; English).

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Abstract or Brief Description

Criticism of trade and investment liberalisation (TAIL) in North America has drawn attention to weak economic performance, wage-profit redistribution, social dumping and fiscal pressure on government programmes as evidence that the TAIL regime has failed to deliver on some of its key promises. This criticism has been unable, however, to establish satisfactory conceptual and empirical connections between the dramatic distributional changes witnessed in the TAIL era and the institutional reorganisation of power that the TAIL regime entrenched. This article will undertake a quantitative assessment of the Canadian political economy to see who the main beneficiaries of the TAIL era have been, contrasting returns to labour and to capital in the pre-TAIL and TAIL eras. Employing tools from the capital as power framework, two pictures are painted: the first picture examines broad changes in the distribution of income and the second examines differential business performance. The evidence from this inquiry suggests that although the official purpose of TAIL was to enhance the prosperity of all Canadians, this trade deal actually represented – both in its intentions and consequences – a political-economic transformation written by dominant capital for dominant capital.

Language

English

Publication Type

Article - Journal

Keywords

capital as power differential accumulation distribution dominant capital liberalisation trade and investment globalization

Subject

BN Distribution
BN Institutions
BN International & Global
BN Power
BN Region - North America
BN Business Enterprise
BN Capital & Accumulation
BN Crisis
BN Labour

Depositing User

Jonathan Nitzan

Date Deposited

20 May 2013

Last Modified

07 Apr 2016 14:55

URL:

http://bnarchives.yorku.ca/id/eprint/351

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