Fast Track Authority

James Devine jdevine at
Wed Sep 9 08:38:47 PDT 1998

Brad De Long wrote:
>> Why is anyone opposed to concluding a free-trade agreement with Chile?

Michael Perelman answers:
>Because, as I understand it, the Fast Track was not limited to Chile, but
>includes other treaties, such as MAI.--

It sure seems that the "Fast Track" metaphor should be replaced by another: Trojan Horse.

Brad, why should we expect the Clinton administration -- or, for that matter, a GOPster administration -- to do the right thing if they are not monitored at every point? Should we trust their good intentions?

Put another way: why should we forget the principal/agent problem, where (officially at least) the voters are the principal and the administration is the agent? (The econ. profession has just recently become conscious of the P/A problem. Should we now sweep it under the rug?) This is an especial problem given the existence of another principal with tremendous power and no concern for the welfare of the average worker, i.e., organized capital.

Jim Devine jdevine at & "If heartaches were commercials, we'd all live on TV." -- John Prine.

More information about the lbo-talk mailing list