In Defense of Globalization: With a New Afterword

Author: Jagdish Bhagwati
Publisher: Oxford University Press, USA
Released: 2007

Editorial Reviews:

An outstandingly effective book.... Until further notice In Defense of Globalization becomes the standard general-interest reference, the intelligent layman's handbook, on global economic integration."--The Economist


"Once again, Columbia University economist Jagdish Bhagwati has weighed into the increasingly partisan and ideological debate over trade, offshore outsourcing and globalization. And once again, it is worth listening to.... what's most important about this book is its caution about globalization --namely, that it has to be managed, both in terms of how quickly it proceeds and what policies are put in place to reduce its unpleasant economic and social side effects."--Washington Post


"Bhagwati combines the hard-nosed perspective of a liberal on trade and investment with the soft-hearted sensitivities of a social democrat on poverty and human welfare. He thus has an admirable ability to address patiently and sympathetically globalization's well-meaning but wrong-headed critics.... A cogent, erudite, and, indeed, enjoyable discussion of economic globalization and its discontents."--Foreign Affairs


"One of the world's leading international trade theorists.... Bhagwati takes on many antiglobalist arguments, showing them to be overblown or groundless. The lot of women and children improves with the opening of markets, and the environment too, not to mention the chances for democracy.... Accessible and clearly argued. There is, one might say, a wealth of material on every page."--Bruce Bartlett, The Wall Street Journal


"An important contribution to an often incoherent debate. As we expect of Mr. Bhagwati, it is cogently argued and well written. It sets out a persuasive case in favor of globalization. And because of Mr. Bhagwati's impeccable credentials, there is a better chance his book will be given a fair hearing than might be the case with some other authors. Put simply, Mr. Bhagwati has 'street cred'."--Anne Krueger (Acting Director of the IMF), Financial Times


"Critics of globalization will find a few things to admire in Bhagwati's outlook. He limits his defense of globalization to trade, direct investment and migration. The book's short chapter on capital markets echoes many of the concerns of globalization's critics. Bhagwati forcefully denounces 'the Wall Street-Treasury Complex' that cajoled developing countries into eliminating capital controls. His charming cosmopolitanism will also allay the fears of critics convinced that economists are incapable of appreciating non-economic values. Literary references flow from the pages, from Lady Murasaki to King Lear to Woody Allen."--Daniel W. Drezner, New York Times Book Review


"In this elegant book, one of the world's preeminent economists distills his thinking about globalization for the lay reader.... Armed with a wit uncharacteristic of most writing on economics and drawing on references from history, philosophy and literature as well as some 'state of the art econometric analysis,' he sets out to prove that the antiglobalization movement has exaggerated claims that globalization has done little good for poor countries.... This is a substantial study that is as about as enjoyable and reassuring a work of economics as may be possible to write in this uncertain age."--Publishers Weekly


Product Description:
In the passionate debate that currently rages over globalization, critics have been heard blaming it for a host of ills afflicting poorer nations, everything from child labor to environmental degradation and cultural homogenization. Now Jagdish Bhagwati, the internationally renowned economist, takes on the critics, revealing that globalization, when properly governed, is in fact the most powerful force for social good in the world today. Drawing on his unparalleled knowledge of international and development economics, Bhagwati explains why the "gotcha" examples of the critics are often not as compelling as they seem. With the wit and wisdom for which he is renowned, Bhagwati convincingly shows that globalization is part of the solution, not part of the problem.

This edition features a new afterword by the author, in which he counters recent writings by prominent journalist Thomas Friedman and the Nobel Laureate economist Paul Samuelson and argues that current anxieties about the economic implications of globalization are just as unfounded as were the concerns about its social effects.

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