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.

Offshoring of American Jobs: What Response from U.S. Economic Policy? (Alvin Hansen Symposium on Public Policy at Harvard Unviersit)

Business & Money

BHAGWATI, Jagdish N.

Blinder, Gordon S Rentschler Memorial Professor of Economics and Public Affairs Alan S

Economics

MIT Press]

The New international economic order: The North-South debate (MIT Bicentennial studies)

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.

Essays in Development Economics, Vol. 1: Wealth and Poverty

Management & Leadership

Mit Pr

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.  Jagdish N. Bhagwati is Arthur Lehman Professor of Economics and Director of the International Economics Research Center at Columbia University. Essays in Development Economics, in conjunction with the two-volume work, Essays in International Economic Theory (edited by Robert C. Feenstra, MIT Press), constitute a comprehensive selection of Bhagwati's influential and important contributions to the theory and policy of development and of international trade. Gene M. Grossman is Assistant Professor of Economics and International Affairs, Princeton University.

Essays in Development Economics, Vol. 2: Dependence and Interdependence

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. Jagdish Bhagwati is Arthur Lehman Professor of Economics and Professor of Political Science at Columbia University. Protectionism is based on the inaugural series of Ohlin Lectures, which he delivered at the Stockholm School of Economics in October of 1987.

Protectionism (Ohlin Lectures)

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.

Income Taxation and International Mobility

Musgrave, Richard Abel

Wilson, John Douglas

A Stream of Windows: Unsettling Reflections on Trade, Immigration, and Democracy

"Jagdish Bhagwati is that rare economist who thinks broadly and writes clearly. His high intelligence, lively style, and good humor are all in evidence in this collection." -- Fareed Zakaria, Managing Editor, Foreign Affairs 
"Anyone who reads this engaging description of the ways the world works will emerge a lot less confused and at least a little more optimistic." -- Adrian Karatnycky, The Wall Street Journal 
Jagdish Bhagwati firmly believes that those who work at the frontiers of economics should also get down into the trenches of public policy in the only way they can: through advocacy. His frequent writings in leading newspapers and magazines are further testimony to his conviction that academics can best do public good by becoming a public nuisance. Running through his writings is the contrary voice, questioning popular positions, challenging the consensus. 
Bhagwati has an agenda to advance, a vision of the good society that economic policy must help to shape. The good society he has sought over the years is one whose economics embrace openness, in particular in trade and immigration, and whose politics are democratic, not just for the elite few but with the effective participation of the many, including women and minorities. 
A Stream of Windows offers a selection of the author's policy writings from the past ten years. The title, from a James Schuyler poem, suggests the fluidity of a stream, contrasted with a stagnant pool, as well as the windows the author seeks to open to bring in fresh air. The image captures the essence of the author's writings, which forcefully opposed the demonization of Japan in the 1980s and early 1990s, and which expose the folly of current U.S. policy equating free trade with free trade areas, challenge the bipartisan bashing of illegal immigrants, refute the conventional view that democracy hinders development, and much more.

M.I.T. Press

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). The new chapters are on: - the specific-factors model - the "higher-dimensional" trade theory and empirical verification of the Heckscher-Ohlin-Vanek theory - duality in trade theory - algebra of the Heckscher-Ohlin and specific-factors models - the theories of international trade in the presence of scale economies - nontariff instruments of trade policy, chiefly AD, VERs, and VIEs - trade policy under oligopoly and monopolistic competition - trade policy reform - application of the new literature on endogenous growth to trade theory and policy

Lectures on International Trade - 2nd Edition

Panagariya, Arvind

Srinivasan, T.N.

International

The Wind of the Hundred Days: How Washington Mismanaged Globalization

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.

Tax Law

Going Alone: The Case for Relaxed Reciprocity in Freeing Trade

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.

Finance

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