Monday, July 09, 2007


The growth of the emerging economies like India and China and the emergence of India as a software development destination can be attributed to the ' frivolous' (?) pace of globalization. Is it good or bad for the world. ? Only time can tell.

But we have had economists like Amartya Sen and Joseph Stiglitz ( Nobel lauretes worried about this phenomenon) and an equally strong rebuttal of their stand by Prof Jagdish Bhagwati in his 2004 book In Defense of Globalization. Having been influenced by Thomas Friedman's book exhorting globalization and also the articles and books by Joseph Stiglitz against globalization, the articles written by this Gujarati brother of the former Chief Justice of the Indian Supreme court Justice P N Bhagwati is a sure eye opener. The Left calls him, the greatest Free Trader in the world as of today. He extolls the virtues of free and open trade, non-protectionism and so on.

A doyen among economists specialising in international trade and the phenomenon of Globalization.

Homepage at Columbia Uty. - http://www.columbia.edu/~jb38/

Through this recent artilce he says that it is technology not globalization which is driving down wages in the developed world.
http://www.columbia.edu/~jb38/FT%20Jan%203%2007.doc

On Protectionism - http://www.econlib.org/library/Enc/Protectionism.html

What wikipedia has to say http://en.wikipedia.org/wiki/Jagdish_Bhagwati

A good review of his book " In Defense of Globalization" http://www.boloji.com/bookreviews/043.htm

His book 'In Defense of Globalization' (2004), Oxford University Press is a worth read..

The greatness of this Indian is that he is next in line for The Nobel Prize in Economics.. Why is it taking such a long time for him !!

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Sincerely
George Easaw

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