An internationally renowned economist, Jagdish Bhagwati takes conventional wisdom—that globalization is the cause of several social ills—and turns it on its head. Properly regulated, globalization, he says, is the most powerful force for social good in the world.
Jagdish Bhagwati reveals how preferential trade agreements have recreated the unhappy situation of the protectionist 1930s, when world trade was undermined by discriminatory practices, and argues that the world trading system is definitely at risk again.
While immigration reform usually refers to unskilled labor, skilled immigration requires different policy action. Bhagwati and Hanson bring together today's foremost immigration experts to examine the phenomenon.
These teaching notes, by CFR Senior Fellow Jagdish N. Bhagwati, feature discussion questions and additional projects for educators to supplement the book Skilled Immigration Today: Prospects, Problems and Policies. In this book, Professor Bhagwati and coauthor Gordon Hanson examine the causes and consequences of the international migration of skilled workers with a particular emphasis on the policy challenges confronting the governments in sending and receiving countries.
Jagdish Bhagwati says that the pessimism and despair that often overwhelms free traders today is unwarranted. The arguments of protectionists, new and old, are just so many myths that can be successfully challenged.
Jagdish N. Bhagwati and Arvind Panagariya argue that it is a mistake for India to join the United States in "China bashing" over the value of the renminbi. With its savings rate high and rising, India too could run into the Chinese "problem" of a current account surplus.
Jagdish Bhagwati says that in a new climate change protocol rich countries must accept a tort liability for past emissions. All countries should accept liability for current emissions, although grace periods could be granted to developing countries.
As the Zambian economist Dambisa Moyo argues, the concept of foreign aid is ﬂawed -- not just because corrupt dictators divert aid for nefarious or selﬁsh purposes but also because even in reasonably democratic countries, aid creates perverse incentives and unintended consequences.
Proposals that any carbon tax in developing countries which falls below the one in the developed countries should be offset through other means like border taxes spring from fears that have no basis in economic analysis, write Jagdish Bhagwati and Arvind Panagariya.
The recession has added fuel to the debate over skilled-worker visas, including a recent congressional effort to create stricter rules. CFR's Jagdish Bhagwati says the United States should be welcoming skilled workers and other immigrants.
Jagdish N. Bhagwati and Arvind Panagariya argue thatlegal protectionism used indiscriminately could undermine the liberal trading system. When exhortation does not work, the threat of retaliation is needed to deter such protectionism.