by Bob Roman
Chicago DSA has taken a few calls about voting for Bernie Sanders delegates. In Illinois, primary election voters will vote for the person they desire to be nominated for President. They will also vote for the delegates to the national convention. Nominally, the delegates are the ones who make the decision, so the callers were confused. There are more Bernie candidate delegates on the ballot than there are to be voted for. Who to vote for?
The Poverty of Neoclassical Economic Analysis
At Dollars & Sense, Ron Baiman begins:
When I first got wind of the denunciation of Prof. Gerald Friedman’s Bernienomics impact estimates by prominent liberal Economists two questions came immediately to mind. Who were these liberal economists and what were their objections? A little googling around got me the first answer in a jiffy. The liberal economists were the four former Chairs of the Council of Economic Advisors (CEA) under Democratic Presidents Clinton and Obama: Alan Kreuger, Austan Goolsbee, Christina Romer, and Laura D’Andrea Tyson. It took more time and more work to establish the second answer. According to their three paragraph letter, they: “are concerned to see the Sanders campaign citing extreme claims by Gerald Friedman” (Italics mine) that Bernienomics could have: “huge beneficial impacts on growth rates, income and employment” because these “exceed even the most grandiose predictions by Republicans about the impact of their tax cut proposals” and “no credible economic research supports economic impacts of these magnitudes”.
Investor-State Dispute Settlement
At Public Citizen’s Eyes on Trade, Lise Johnson notes:
I refer to ISDS as an experiment because, although it is commonly noted that there are 3,000 investment treaties around the world and, therefore, that the ISDS mechanism is nothing new, the first investment treaty with ISDS was actually not concluded until the late 1960s. Investment treaties with ISDS were not widely negotiated until the 1990s, and ISDS claims only really emerged in earnest in the late 1990s and early 2000s. Thus, we really only have roughly 15 years of experience with this mechanism. ISDS is still a new area of law. An experiment.
I note that ISDS is a failed experiment because it does not appear to have achieved three of the commonly stated objectives of the mechanism. It has not led to increased investment flows, nor to a set of predictable international legal rights for investors, nor to an increase in the rule of law in host countries.
Oh, incidentally, your editor notes that we (that is, the U.S. government, but you and I will be paying) are being sued for $15 billion for blocking the Keystone XL pipeline. At the Washington Post, Todd Tucker has an informed opinion suggesting the U.S. might lose. The Council of Canadians has issued an 8 page briefing paper using the Keystone XL case illustrating what is wrong with the ISDS process, CLICK HERE. (PDF)
Illinois Green Party
The IL GP held a Presidential Preference vote this month. Dr. Jill Stein won 87% of the votes cast. The 23 member Illinois delegation to the Green Party national convention will be apportioned thus: Dr. Jill Stein, 20 delegates; Bill Kreml, 1 delegate; Uncommitted, 2 delegates. The Illinois Green Party will be having its convention on March 5 at University Center, 525 S. State in Chicago. For more information, CLICK HERE.