These two volumes contain seventy essays chosen largely for the originality of their contributions.
The first volume contains several classic papers. Among them are the many contributions to the theory of distortions in the 1960s which laid the foundations of the postwar theory of commercial policy. Also included are Bhagwati's important papers of the 1970s and 1980s which have shaped a new revolution in the theory of trade and welfare: the political-economy-theoretic analysis of DUP (directly-unproductive profit-seeking) activities. Influential essays on the nonequivalence of tariffs and quotas, immiserizing growth, cost-benefit analysis in open economies, and other major areas of trade theory are covered.
The second volume presents essays that have opened up new areas of analysis in the theory of international trade and in the associated fields of public finance and developmental economics. Bhagwati's seminal work on the novel question of the appropriate income tax jurisdiction in the presence of international factor mobility, his well-known analyses of the consequences of skilled migration, the problem of the optimal choice between international capital and labor mobility, are all included.
About the Author
Jagdish Bhagwati is University Professor at Columbia University and External Advisor to the Director General, World Trade Organization and Senior Fellow for International Economics with the Council on Foreign Relations. He was named Distinguished Fellow of the American Economic Association in 2003.
About the Editor
Robert C. Feenstra is Professor of Economics and C. Bryan Cameron Distinguished Chair in International Economics at the University of California, Davis. He directs the International Trade and Investment Program at the NBER and is the author of Advanced International Trade: Theory and Evidence and Offshoring in the Global Economy: Microeconomic Structure and Macroeconomic Implications (MIT Press, 2010).
"Creative and rigorous analysis applied to vital policy problems—that's the mark of a master economist like Jagdish Bhagwati. His Essays in International Economic Theory deserves a place on all our bookshelves."
"Professor Bhagwati has made pathbreaking contributions to international trade theory for over 25 years. These two volumes bring together in one place his numerous theoretical contributions to the theory of trade, production, investment, and labor mobility."
—Richard N. Cooper, Boas Professor of International Economics, Harvard University
"As this collection of essays makes abundantly clear, Jagdish Bhagwati is one of our most creative and prolific economists. The two volumes include not only 'classic' articles that have become a standard part of modern international economics but recent papers that make important new contributions to the field."
—Robert E. Baldwin, Professor of Economics, University of Wisconsin