Clare Daly (Dublin North, United Left) | Oireachtas source

All of the studies cited by the Minister are based on computable general equilibrium modelling techniques and the general equilibrium theory that underpins them. They have been widely discredited by sociologists and most economists, with the exception of the neoclassical economists who are wedded to the neoliberal agenda. The methods used by these groups have been defined by some as fictional expectations of GDP and jobs growth will come from the TTIP. I am not the only one who is saying this. Even not so radical organisations such as The Economist stated, "If the modeller believes that trade raises productivity and growth, for example, then the model's result will mechanically confirm this". It is very much like what is called in computer terms "garbage in, garbage out" and the predictions around austerity. We were told it would deliver magnificent growth rates in Europe when, in reality, it has delivered the opposite. The idea of deregulating Europe, privatisation, lowering the living standards of workers and so on was very much supported. Given that the European Commission has stated ballpark figures are available, the Minister might want to revise his attitude to the studies.

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