Ep 19. Ben Bernanke the Trans Pacific Partnership

Ben Bernanke, former chairman of the Federal Reserve, joins Charlie Rose on season 24 episode 19 to discuss the Trans Pacific Partnership (TPP). The TPP is a proposed trade agreement between twelve countries, including the United States, Japan, and Australia. Proponents of the TPP argue that it will boost economic growth and lower trade barriers. Opponents criticize the agreement for its potential impact on jobs, the environment, and consumer protection.

Bernanke's discussion of the TPP centers on the potential economic benefits of the agreement. He argues that the TPP will increase competition and encourage innovation, ultimately leading to lower prices and improved standards of living. He also points out that the agreement includes measures to protect intellectual property rights, which will benefit businesses that rely on innovation.

However, Bernanke acknowledges that there are also potential downsides to the TPP. For example, some industries may be adversely affected by increased competition from foreign markets. He also notes that the agreement includes provisions for investor-state dispute settlement, which some critics argue can undermine national sovereignty.

Throughout the interview, Charlie Rose asks Bernanke to explain the economic principles behind the TPP and to respond to common criticisms of the agreement. They discuss how the TPP may impact job growth in various industries, how it may affect the cost of prescription drugs, and how it could impact global geopolitics.

The conversation also touches on Bernanke's time as chairman of the Federal Reserve. Bernanke reflects on the economic challenges he faced during his tenure, including the housing market crash and the Great Recession. He discusses the actions he took to try to mitigate these crises, including the controversial decision to implement quantitative easing.

Overall, the conversation between Charlie Rose and Ben Bernanke offers a nuanced look at the potential benefits and drawbacks of the Trans Pacific Partnership. The episode serves as a valuable resource for those seeking to better understand the complex economic issues at play in international trade agreements.