The debate over fast-track trade authority – designed to grease the tracks for a vote on the Trans Pacific Partnership (TPP) accords still in negotiation – ought to be the occasion for a fundamental review of our global economic strategy.

We know that it is broken. We’ve racked up unprecedented deficits year after year. The unsustainable imbalances contributed directly to the bubble and bust that blew up the global economy. We’ve watched good jobs shipped abroad, devastating America’s manufacturing prowess. We’ve seen workers’ wages decline and inequality grow to new extremes. Doing more of the same and expecting a different result is the very definition of insanity. Clearly, a comprehensive review is long overdue.