Jagdish N. Bhagwati

Jagdish N. Bhagwati is University Professor of Economics, Law, and International Relations at Columbia University and former Adviser to the Director General of GATT, Arthur Dunkel. He is the author (with Arvind Panagariya) of Why Growth Matters: How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries.

  • The World Trade System

    The World Trade System

    Trends and Challenges

    Jagdish N. Bhagwati, Pravin Krishna, and Arvind Panagariya

    Leading trade esperts examine the world trading system today, from the multilateralism of the WTO to explosive bilateralism and the mega-regionals TPP and TTIP.

    When the General Agreement on Tariffs and Trade (GATT) metamorphosed into the World Trade Organization (WTO) in 1994, it seemed that the third pillar of the international economic superstructure was finally in place. And yet with the failure of member countries to close the Doha Round of trade negotiations and the emergence of bilateral and plurilateral preferential trade arrangements (PTAs) such as the Trans-Pacific Partnership (TPP), the future of the multilateral WTO seems uncertain. In this volume, leading economists examine issues in trade policy that have arisen during this shift.

    The contributors discuss such topics as the effect of trade on poverty and inequality, PTAs and litigation between trading partners, the WTO Trade Facilitation Agreement, and the relationship of food security and trade liberalization. They also offer regional perspectives on the TPP and trans-Atlantic free trade.

    Contributors Rahel Aichele, Jagdish Bhagwati, Steve Charnovitz, Gabriel Felbermayr Dimitar Gueorguiev, Bernard Hoekman, Jonas Kasteng, Pravin Krishna, Mary Lovely, Petros Mavroidis, Devashish Mitra, Arvind Panagariya, Tom Prusa, Andre Sapir, Stefan Tangermann

    • Hardcover $80.00 £62.00
  • Offshoring of American Jobs

    Offshoring of American Jobs

    What Response from U.S. Economic Policy?

    Jagdish N. Bhagwati, Alan S. Blinder, and Benjamin M. Friedman

    Two leading economists discuss a range of issues relating to the “offshoring” of American jobs, from free trade to unemployment levels.

    It is no surprise that many fearful American workers see the call center operator in Bangalore or the factory worker in Guangzhou as a threat to their jobs. The emergence of China and India (along with other, smaller developing countries) as economic powers has doubled the supply of labor to the integrated world economy. Economic theory suggests that such a dramatic increase in the supply of labor without an accompanying increase in the supply of capital is likely to exert downward pressure on wages for workers already in the integrated world economy, and wages for most workers in the United States have indeed stagnated or declined. In this book, leading economists Jagdish Bhagwati and Alan S. Blinder offer their perspectives on how the outsourcing of labor and the shifting of jobs to lower-wage countries affect the U.S. economy and what, if any, policy responses are required. Bhagwati, in his colorful and pithy style, focuses on globalization and free trade, while Blinder, erudite and witty, addresses the significance of labor market adjustment caused by trade. Bhagwati's and Blinder's contributions are followed by comments from economists Richard Freedman, Douglas A. Irwin, Lori G. Kletzer, and Robert Z. Lawrence. Bhagwati and Blinder then respond separately to the issues raised. Benjamin Friedman, who edited this volume (and organized the symposium that inspired it), provides an introduction.

    • Hardcover $9.75 £7.99
  • Going Alone

    Going Alone

    The Case for Relaxed Reciprocity in Freeing Trade

    Jagdish N. Bhagwati

    An analytic and empirical study of unilateral trade liberalization agreements, from the nineteenth century to the present.

    Since the end of World War II, the freeing of trade has been most visible in reciprocal liberalization agreements negotiated under the General Agreement on Tariffs and Trade, or GATT, and through increasing bilateral and plurilateral agreements. There has also, however, been a significant, if less visible, unilateral freeing of trade by several nations.

    This book, based on a research project directed by Jagdish Bhagwati, examines the experiences with such unilateral trade liberalization. Part 1 considers historical experiences, following Britain's unilateral embrace of free trade. Part 2 discusses recent examples, and Part 3 discusses unilateral liberalization in specific sectors. The substantive introduction provides a synthesis of the findings as well as theoretical support. It argues that although unilateral freeing of trade is generally less beneficial than reciprocity, it can trigger "sequential" reciprocity through example or by encouraging lobbies abroad to favor trade expansion.

    • Hardcover $14.75 £11.99
    • Paperback $35.00 £27.00
  • The Wind of the Hundred Days

    The Wind of the Hundred Days

    How Washington Mismanaged Globalization

    Jagdish N. Bhagwati

    Provocative essays on international trade, with particular focus on U.S. foreign trade policy.

    In The Wind of the Hundred Days, a new collection of public policy essays, Jagdish Bhagwati applies his characteristic wit and accessible style to the subject of globalization. Notably, he argues that the true Clinton scandal lay in the administration's mismanagement of globalization—resulting in the paradox of immense domestic policy success combined with dramatic failure on the external front. Bhagwati assigns the bulk of the blame for the East Asian financial and economic crisis—a disaster that prompts him to use as his title the poet Octavio Paz's image of devastation "I met the wind of the hundred days"—to the administration's hasty push for financial liberalization in the region.

    The administration, Bhagwati claims, has also mishandled the freeing of trade. The administration-hosted WTO meeting in Seattle ended in chaos and the launch of a new round of multilateral trade negotiations was dashed. Bhagwati shows how the administration's failure to get Congress to renew fast-track authority can be attributed to an unimaginative response to the demands of a growing civil society. In several essays, he shows how free trade and social agendas both could have been pursued successfully if the concerns of human-rights, environmental, cultural, and labor activists had been met through creative programs at appropriate international agencies such as the International Labour Organization instead of the WTO and via trade treaties. Bhagwati also criticizes the claim that "globalization needs a human face," arguing that it already has one. He faults the administration for embracing unsubstantiated anti-globalization rhetoric that has made its own preferred option of pursuing globalization that much more difficult.

    • Hardcover $62.50 £43.95
    • Paperback $6.75 £5.99
  • Trading Blocs

    Trading Blocs

    Alternative Approaches to Analyzing Preferential Trade Agreements

    Jagdish N. Bhagwati, Pravin Krishna, and Arvind Panagariya

    This volume will enable graduate students, scholars of PTAs, and policymakers concerned with trade liberalization to grasp the analytical relationships among the sometimes disparate contributions of nearly a half century of theoretical research on PTAs.

    The recent proliferation of free trade areas and customs unions in the world trading system has led to an explosive revival of interest in the economic analysis of Preferential Trade Arrangements (PTAs). The principal theoretical question of the 1950s and 1960s (Viner) was whether PTAs would create or divert trade, causing welfare improvement or loss. The principal theoretical question (Bhagwati) of the late 1980s and 1990s has been whether PTAs encourage or discourage the worldwide nondiscriminatory freeing of trade. The essays in this volume present the central contributions to the analytical approaches developed to examine these questions.The first section of the book presents a synthesis and analytical guide to the issues, and to the theoretical research, as they have developed since 1950. The following sections contain the theoretical contributions themselves, grouped by analytical approach. This volume will enable graduate students, scholars of PTAs, and policymakers concerned with trade liberalization to grasp the analytical relationships among the sometimes disparate contributions of nearly a half century of theoretical research on PTAs.

    Contributors Richard Baldwin, Jagdish Bhagwati, Richard Brecher, C. A. Cooper, W. Max Corden, Alan Deardorff, Ronald Findlay, Earl Grinols, Gene Grossman, Elhanan Helpman, Harry G. Johnson, Murray C. Kemp, Pravin Krishna, Paul Krugman, Philip Levy, R. G. Lipsey, B. F. Massell, Robert Mundell, Arvind Panagariya, Martin Richardson, T. N. Srinivasan, Robert Stern, Lawrence Summers, Jacob Viner, Henry Y. Wan, Jr.

    • Hardcover $75.00 £51.95
    • Paperback $35.00 £27.00
  • Lectures on International Trade, Second Edition

    Lectures on International Trade, Second Edition

    Jagdish N. Bhagwati, Arvind Panagariya, and T. N. Srinivasan

    The greatest strength of this thoroughly revised and expanded edition of Lectures on International Trade is its rigorous algebraic and geometric treatment of the various models and results of trade theory. The authors, who now include Arvind Panagariya, offer both policy insights and empirical applications. They have added nine entirely new chapters as well as new sections to several existing chapters (e.g., a greatly expanded treatment of the growing theory of preferential trade agreements).

    • Hardcover $85.00 £62.95
    • Paperback $60.00 £47.00
  • A Stream of Windows

    A Stream of Windows

    Unsettling Reflections on Trade, Immigration, and Democracy

    Jagdish N. Bhagwati

    Lively, sometimes contrary policy writings by one of our leading economists.

    Winner of the 1998 Eccles Prize for Excellence in EconomicWritingA Stream of Windows offers a selection of Jagdish Bhagwati's recentpolicy writings, in which he forcefully opposes the demonization of Japan, challenges the bipartisan bashing of illegal immigrants, refutes the conventional view that democracy hinders development, and much more.

    • Hardcover $47.00 £34.95
    • Paperback $35.00 £27.00
  • Fair Trade and Harmonization, Volume 1

    Fair Trade and Harmonization, Volume 1

    Economic Analysis

    Jagdish N. Bhagwati and Robert E. Hudec

    The original contributions in Fair Trade and Harmonization investigate the growing conflict between free trade policies and the domestic environmental, labor, and antitrust policies of individual nations. They clarify the issues and offer a critical economic and legal analysis of the contending positions along with a series of proposals for resolving or reconciling them. Taken together, the two volumes present a comprehensive catalog of the government actions that are causing conflict in these areas and a critique of the existing scholarly literature on the subject. In each area, the contributors extensively discuss and analyze forms of policy harmonization and the arguments for and against it, with a goal of better understanding as a constant throughout. A more particular goal, however is to take a sober second look at, and impose some restraint upon, the growing chorus of demands to push aside the existing trade institution (the World Trade Organization) in the name of social policies, especially those regarding environmental and labor rights.

    Contributors Volume 1: Jagdish Bhagwati, Christopher Bliss, Drusilla K. Brown, Alessandra Casella, Richard H. Clarida, Alan V. Deardorff, Alvin K. Klevorick, David W. Leebron, James Levinsohn, Arik Levinson, John McMillan, Andre Sapir, Gary R. Saxonhouse, Joel Slemrod, T. N. Srinivasan, Robert M. Stern, John Douglas Wilson

    • Hardcover $20.75 £16.99
  • Fair Trade and Harmonization, Volume 2

    Fair Trade and Harmonization, Volume 2

    Legal Analysis

    Jagdish N. Bhagwati and Robert E. Hudec

    The original contributions in Fair Trade and Harmonization investigate the growing conflict between free trade policies and the domestic environmental, labor, and antitrust policies of individual nations. They clarify the issues and offer a critical economic and legal analysis of the contending positions along with a series of proposals for resolving or reconciling them. Taken together, the two volumes present a comprehensive catalog of the government actions that are causing conflict in these areas and a critique of the existing scholarly literature on the subject. In each area, the contributors extensively discuss and analyze forms of policy harmonization and the arguments for and against it, with a goal of better understanding as a constant throughout. A more particular goal, however is to take a sober second look at, and impose some restraint upon, the growing chorus of demands to push aside the existing trade institution (the World Trade Organization) in the name of social policies, especially those regarding environmental and labor rights.

    Contributors Volume 2: Kenneth W. Abbott, Richard D. Boltuck, Ronald A. Cass, Daniel A. Farber, Daniel J. Gifford, Brian Hindley, Robert E. Hudec, Brian A. Langille, Virginia A. Leary, Mitsuo Matsushita, Frieder Roessler

    • Hardcover $20.75 £16.99
  • Political Economy and International Economics

    Political Economy and International Economics

    Jagdish N. Bhagwati and Douglas A. Irwin

    Political Economy and International Economics is the fifth volume of collected essays by the noted economist Jagdish Bhagwati. Following Essays in International Economic Theory (edited by Robert Feenstra) and Essays in Development Economics (edited by Gene Grossman), it reflects Bhagwati's wide range of interests and his rare ability to combine economic theory and political analysis.Many of Bhagwati's writings provide fresh insights into old problems, from the theory of commercial policy, to foreign investment and labor migration; others open up new areas such as services to analysis. Recent work on the theory of political economy, including DUP (directly unproductive profit-seeking) activities and quid pro quo direct investment, breaks new ground. Also included are a number of previously inaccessible lectures covering such important issues as poverty and public policy. Cutting across several fields of economics, including public finance and development, these provide masterly syntheses and overviews of broader issues.

    • Hardcover $49.95
    • Paperback $10.75 £8.99
  • Income Taxation and International Mobility

    Income Taxation and International Mobility

    Jagdish N. Bhagwati and John Douglas Wilson

    Income Taxation and International Mobility addresses the novel theoretical and practical problems that this growing phenomenon of international personal mobility creates for the design of a country's tax system and takes up questions that have grown largely out of the extensive debate over Jagdish Bhagwati's proposal in the early 1970s to "tax the brain drain."

    Today millions of people work in countries where they are not citizens. Income Taxation and International Mobility addresses the novel theoretical and practical problems that this growing phenomenon of international personal mobility creates for the design of a country's tax system and takes up questions that have grown largely out of the extensive debate over Jagdish Bhagwati's proposal in the early 1970s to "tax the brain drain." The contributors, who include many of the leading theorists of international economics and public finance, look at how the difficult question of how horizontal equity is to be defined - between nationals at home and abroad or between nationals abroad and foreign citizens abroad - and tackle such questions as Should a country exercise income tax jurisdiction over its citizens abroad? If so, in what way? Is it practical to do so? The issues that these questions raise are complex, lying on the interface of politics, sociology, and economics. Income Taxation and International Mobility breaks significant new ground by analyzing these questions and building on the modern theory of optimal income taxation to examine the consequences of the possibility of outmigration on the appropriate exercise and design of income tax jurisdiction on those who live outside their native country. Theoretical analyses are presented in six chapters by the editors and by James Mirrlees, William Baumol, and Koichi Hamada. The well known tax law expert, Richard Pomp, examines the Philippines experience in taxing citizens abroad. The editors provide a substantial introduction that synthesizes the book's major analytical approaches and conclusions, and Richard Musgrave provides an insightful view of the issues in his Foreword.

    • Hardcover $50.00
    • Paperback $30.00 £24.00
  • Protectionism

    Protectionism

    Jagdish N. Bhagwati

    A leading international economist looks at many of the key issues of trade policy now confronting the United States and the world in this timely book. Clear, informative, and witty, Jagdish Bhagwati provides the best available analysis of the protection debate and offers a prescription for reform in this turbulent area of trade policy. Bhagwati identifies new and powerful interests and ideologies that are likely to dominate the outcome of the debate. He argues that opposing tendencies can be identified in trade-related ideologies and in the national and sectional interests that lobby on trade policy in pluralistic societies. He offers the prognosis that the forces favoring freer trade are more robust and more fundamental than the forces of protectionism, and that pro trade forces are likely to triumph in the end but only if we adapt appropriately the institutions within which these ideologies and interests must function. Through an appealing combination of text, quotations, cartoons, tables, charts, and graphs, Bhagwati provides a masterly and entertaining look at the forces for and against protection.

    Protectionism is based on the inaugural series of Ohlin Lectures, which he delivered at the Stockholm School of Economics in October of 1987.

    • Hardcover $42.00 £31.95
    • Paperback $25.00 £20.00
  • International Trade, Second Edition

    International Trade, Second Edition

    Selected Readings

    Jagdish N. Bhagwati

    This text collects the most important contributions to the theory of international trade in recent decades, including the many new approaches developed during the 1980s. Of the 28 chapters in major sections covering general equilibrium, trade pattern theories, imperfect competition and market structure, quotas and VERs, theory of distortions, direct unproductive profit-seeking and rent-seeking activities, customs unions, growth and transfers, and foreign investment, 16 are new to this edition. These new pieces focus on such currently active areas as the treatment of market structure, explored chiefly by economists Avinash Dixit, Jonathan Eaton and Gene M. Grossman, Paul R. Krugman, Elhanan Helpman, James Brander and Barbara Spencer, and imperfect competition and the theory of political economy, with key contributions by Anne 0. Krueger, Jagdish Bhagwati, Ronald Findlay, T. N. Srinivasan, Richard Brecher, Wolfgang Mayer, and several other younger trade theorists. Other new selections take up developments within more traditional topics, such as the classic problem of the effects of transfers, the equivalence of tariffs and quotas, revived in the context of the effect of VERs, and the theory of multinational investments which has been affected by both the new theories of market structure and of political economy.

    • Hardcover $75.00
    • Paperback $11.75 £9.99
  • Essays in Development Economics, Volume 1

    Essays in Development Economics, Volume 1

    Wealth and Poverty

    Jagdish N. Bhagwati and Gene M. Grossman

    Volume I, Wealth and Poverty, addresses domestic or internal development problems.

    Essays in Development Economics collects many of Jagdish Bhagwati's writings that have established him as a major postwar developmental economist. The selection is diverse and highlights the close relationship and mutual reinforcement in Bhagwati's research between economic theory, empirical validation, and policy debate.

    Volume I, Wealth and Poverty, addresses domestic or internal development problems. Its 22 essays are divided into five parts covering Development Theory and Strategy; Economic Structure: Regularities and Explanations; Class Structure, Poverty, and Redistrbution; Technology and Employment; and Eminent Economists: Sketches and Commentary.

    Volume 2, Dependence and Interdependence, deals with international or external problems and its 20 essays are in four parts covering North-South Issues; Developmental Strategy: Import Substitution versus Export Promotion; Foreign Assistance; and International Migration and Investment.Within each volume, the essays are topically grouped and preceded by brief introductions by the author discussing his current views of the nature of the contributions and the relationship among them. In several cases, previously unpublished papers or postscripts to previously published papers have been added to round out the sections.

    • Hardcover $70.00 £54.00
    • Paperback $35.00 £27.00
  • Essays in Development Economics, Volume 2

    Essays in Development Economics, Volume 2

    Dependence and Interdependence

    Jagdish N. Bhagwati and Gene M. Grossman

    Volume 2, Dependence and Interdependence, deals with international or external problems and its 20 essays are in four parts covering North-South Issues; Developmental Strategy: Import Substitution versus Export Promotion; Foreign Assistance; and International Migration and Investment.

    Essays in Development Economics collects many of Jagdish Bhagwati's writings that have established him as a major postwar developmental economist. The selection is diverse and highlights the close relationship and mutual reinforcement in Bhagwati's research between economic theory, empirical validation, and policy debate.

    Volume I, Wealth and Poverty, addresses domestic or internal development problems. Its 22 essays are divided into five parts covering Development Theory and Strategy; Economic Structure: Regularities and Explanations; Class Structure, Poverty, and Redistrbution; Technology and Employment; and Eminent Economists: Sketches and Commentary.

    Volume 2, Dependence and Interdependence, deals with international or external problems and its 20 essays are in four parts covering North-South Issues; Developmental Strategy: Import Substitution versus Export Promotion; Foreign Assistance; and International Migration and Investment.Within each volume, the essays are topically grouped and preceded by brief introductions by the author discussing his current views of the nature of the contributions and the relationship among them. In several cases, previously unpublished papers or postscripts to previously published papers have been added to round out the sections.

    • Hardcover $70.00 £54.00
    • Paperback $46.00 £36.00
  • Power Passions and Purpose

    Power Passions and Purpose

    Prospects for North-South Negotiations

    Jagdish N. Bhagwati and John Ruggie

    Power, Passions, and Purpose contains twelve original essays and a joint statement by distinguished economists, political scientists, and policy-makers, aimed at exploring new directions in North-South negotiations. Combining the talents of writers from different disciplines, it provides the first substantial treatment of the current stalemate in the North-South dialog, and shows how the situation can be creatively altered.

    The book addresses a political and economic disjunction that arose in the late 1970s in the world economy. By that time, it was evident that the commodity power, which had given force to the Third World's demands for global negotiations concerning the rules of the international economic order, had vanished. Yet, the passions evoked by the Third World countries' perception of such power and by their desire for political and economic equity had not subsided: They originally informed the need for negotiations and provided a purpose which still endures. These contributions shed light on the history of North-South negotiations and offer a rigorous and imaginative analysis of the alternative course of action that must now be confronted.

    An introduction by Jagdish N. Bhagwati is followed by sections on Global Negotiations (Bhagwati, John Gerard Ruggie, Albert Bressand, Muchkund Dubey, John Sewell and William Zartman); Power Sharing and Institutional Change (Catherine Gwin); Debts, Finance, and Trade (Carlos Diaz-Alejandro, Martin Wolf, Jere Behrman); and USSR-South and South-South (Padma Desai, Sanjaya Lall).

    • Hardcover $42.50
    • Paperback $30.00 £24.00
  • Lectures on International Trade

    Jagdish N. Bhagwati and T. N. Srinivasan

    This textbook by two eminent theorists of international trade presents the most integrated and ambitious treatment of the subject available to date. It has evolved over several years of lectures to graduate students at major campuses such as MIT, Yale, and Columbia. While it is primarily addressed to graduate-level courses, it can also be easily adapted to upper-level undergraduate use, since the exposition starts from basic principles. Intuitive, geometric, and mathematical arguments are judiciously combined in a masterly treatment that makes this a unique and authoritative text in the field.

    The book concerns pure rather than monetary theory, and its thirty-four chapters are organized into four parts. The first develops alternative models and theories explaining the trade pattern. The second is addressed to tariffs, quotas, and transfers. The third develops the theory of trade and welfare. The topics include gain from trade, theory of distortions and policy intervention, immiserizing growth, customs unions, DUP activities, international capital flows and migration. The final part treats other threshold topics such as trade and growth, two-ness and duality, cost-benefit analysis and uncertainty.

    • Hardcover $55.00
    • Paperback $16.50
  • Trade, Tariffs, and Growth

    Trade, Tariffs, and Growth

    Essays in International Economics

    Jagdish N. Bhagwati

    Professor Bhagwati has brought together here his most important theoretical writings on international economics. A major contribution to the pure theory of international trade—his Economic Journal survey of the subject—is reprinted and provided with an addendum which brings it up to date. In addition there are papers on propositions relating to gains from trade, and papers on tariffs, quotas and subsidies, which cover both 'positive' and welfare aspects of trade theory. Reprinted here are his well-known papers on immiserizing growth, including a recent generalization, and on the theory of optimal policy intervention under domestic distortions. Four important essays on growth and development round out the volume. The fifteen essays reprinted in this collection comprise all the most original contributions and surveys which have established Professor Bhagwati as a leading theorist of international trade. The wide range of topics covered makes the whole book invaluable to all students of international economics.

    • Hardcover
    • Paperback $42.00 £33.00

Contributor

  • Making Aid Work

    Making Aid Work

    Abhijit Vinayak Banerjee

    An encouraging account of the potential of foreign aid to reduce poverty and a challenge to all aid organizations to think harder about how they spend their money.

    With more than a billion people now living on less than a dollar a day, and with eight million dying each year because they are simply too poor to live, most would agree that the problem of global poverty is our greatest moral challenge. The large and pressing practical question is how best to address that challenge. Although millions of dollars flow to poor countries, the results are often disappointing. In Making Aid Work, Abhijit Banerjee—an "aid optimist"—argues that aid has much to contribute, but the lack of analysis about which programs really work causes considerable waste and inefficiency, which in turn fuels unwarranted pessimism about the role of aid in fostering economic development. Banerjee challenges aid donors to do better. Building on the model used to evaluate new drugs before they come on the market, he argues that donors should assess programs with field experiments using randomized trials. In fact, he writes, given the number of such experiments already undertaken, current levels of development assistance could focus entirely on programs with proven records of success in experimental conditions. Responding to his challenge, leaders in the field—including Nicholas Stern, Raymond Offenheiser, Alice Amsden, Ruth Levine, Angus Deaton, and others—question whether randomized trials are the most appropriate way to evaluate success for all programs. They raise broader questions as well, about the importance of aid for economic development and about the kinds of interventions (micro or macro, political or economic) that will lead to real improvements in the lives of poor people around the world. With one in every six people now living in extreme poverty, getting it right is crucial.

    • Hardcover $16.95 £12.95
    • Paperback $13.95 £10.99