In Defense of Globalization (Audible Audio Edition) Jagdish Bhagwati Sunil Malhotra Audible Studios Books
Download As PDF : In Defense of Globalization (Audible Audio Edition) Jagdish Bhagwati Sunil Malhotra Audible Studios Books
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 .
In Defense of Globalization (Audible Audio Edition) Jagdish Bhagwati Sunil Malhotra Audible Studios Books
The formal charges, levelled in the court of public opinion amid a backdrop of incendiary outrage, burst onto the front pages at the WTO meeting in Seattle in 1999. Never had a defendant been so blindsided by the passions of overzealous prosecution. To observers the outcome of the trial seemed a foregone conclusion: the guilty verdict against globalization was all but a sure thing. The era of free trade was over.But after the tear gas dissipated and the hysterical rantings of labor unions, environmentalists, and zealous isolationists quieted, it was time for the defense to make its presentation. And, to the great benefit of world progress, the team had some able advocates. Over the following years intellectuals like Brink Lindsay, Martin Wolf, and Tom Friedman shredded the overwraught and underthought indictment of the anti-globalists, with careful and insightful analysis of trade barriers and their insidious costs. And the distinguished Columbia professor Jagdish Bhagwati has delivered devastating de facto closing arguments in his cogent, understated masterwork "In Defense of Globalization".
To his great credit Bhagwati never allows emotion to intrude on his analysis of the impact of globalization on poverty, the environment, women's rights, labor standards, the development of democracy, and the fate of cultural traditions. The temptation must be great, since the empirical evidence he sprinkles liberally throughout the book demonstrates with little question that the reduction of trade barriers has the salutory effect of lifting incomes, the ostensible goal of all factions who see poverty reduction as a global imperative. But Bhagwati eschews inflated rhetoric for gentle guidance.
In short, he illustrates how globalization actually enhances labor standards by exporting better practices from the developed world; how wages are pushed up through the intercession of multi-nationals, in comparison with those on offer in impoverished nations' native industries; how women's education and health levels have improved as a result of initiatives in micro finance and export processing zones; how repressive political systems, not the nefarious greed of foreign corporations, often dictate the mistreatment of their citizen-laborers.
This is just a sampling of the many areas Bhagwati explores; part of what makes his argumentation so credible is his treatment of the negative effects of globalization, both temporary and chronic. Globalization will involve dislocation, job insecurity, financial imbalances; he admits as much early on, and uses his authority to recommend remdial measures, like job training subsidies and less onerous immigration laws, that make resounding sense. Though an obvious ardent proponent of globalization, he understands the fears it engenders, and renders those fears comprehensible.
In summation: there is more than reasonable doubt that globalization is guilty of being a force for evil. And that's good, because globalization is happening. The verdict here, whatever the public court decides, is non-binding. Bhagwati's immeasurable contribution to the process is a voice that may make the world's more gullible citzenry aware that the stranger knocking at their door just might be named Opportunity.
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In Defense of Globalization (Audible Audio Edition) Jagdish Bhagwati Sunil Malhotra Audible Studios Books Reviews
a well built construction of what is globalization and the reason to apply to it . Interesting. Engrosing and over all illustrative of a "global" phemomenon that reaches everybody and also determines the future of the world and humankind .In Defense of Globalization With a New Afterword
When I started this book I was prepared to dislike it. I've read several books criticizing globalization and I generally view globalizations cheerleaders as corporate tools. The book started weak but finished strong and I've decided to divide my review up into the Good, the Bad and the Ugly or in this case the Bad, the Ugly and the Good.
The Bad
The author has a tendency to absolve globalization of all ills unless a direct cause and effect can be drawn. For example, he writes that although pollution is a global problem it's not necessarily a problem of globalization. Unfortunately the environmental cost of filling your cart at Wal-Mart with items shipped from around the world is real and irrefutably a result of globalization. The author also takes a rather condescending swipe at the concept of sustainable development.
Besides ecological damage perhaps the number one danger of unrestrained capitalism is the concentration of wealth, however, Mr. Bhagwati prefers to look at the upside of obscene opulence stating that a billionaire like Bill Gates, having more money than he can possibly spend, donates the bulk of his fortune towards social good. The way I see it for every Bill Gates there's a dozen Scaife's, Coors' and Murdoch's using their fortunes to manipulate government for their own ends. Even if the world WAS filled with benevolent billionaires like Gates do the rest of us really want to be dependent on the handouts of the ultra-wealthy like mana from Heaven? No thanks.
The Ugly
Jagdish Bhagwati only quotes occasionally but one person who makes it into the book is Tom Delay. It's clear throughout the book that the author leans to the right of center but quoting such a toxic jerk to defend globalizations really leaves me questioning the author's judgment. Another thing that really bothered me was his implication that Chilean president Salvador Allende brought the coup, which ended his life, on himself by choosing `to move dramatically to the left'.
The final is a biggie. Mr. Bhagwati defends sweatshops by claiming that the workers WANT to work half days or more. He quotes a Hong Kong factory manager who says, "It's actually pretty annoying how hard they want to work. It means we have to worry about security and have a supervisor around almost constantly." I don't even know how to respond to that one.
The Good
Mr. Bhagwati does recognize and admit many of the problems of globalization particularly the asymmetry of justice in the WTO dispute mechanism which favors the powerful. The issue is that poor countries really have no means of retaliating against wealthy countries that break trade agreements. Another issue is the way the Adam Smith `invisible hand' proponents' work to crib the system in their favor. Businesses and conservatives want to see restrictions eliminated on multinationals but then turn right around and beg for subsidies. The cozy relationship between business and politics has moved into very unhealthy territory and the author astutely points out that what we in the United States call lobbying is referred to by a different name elsewhere, bribery.
I was glad to see that the author is no cheerleader for right wing economic theories. He recognizes that freeing capital can only happen after regulatory institutions, particularly a stable, relatively corruption free banking system is in place. I was also pleased by the authors claim that, "As a citizen of the United States, I weigh in on the side of environmentalists and am rooting for them to win." Finally Mr. Bhagwati referred to supply-sider as `bad-economists' which really scored points with me.
It's a fairly good book hurt by some really bad points. Mr. Bhagwati is no right wing globalization flag waver but likewise he seems to put more faith in multinationals than they perhaps deserve. As pro-globalization books go this one is worth reading.
As new as I could have hoped for a paperback
In this book, Dr. Bhagwati presents and analyzes many of the criticisms of globalization that he has heard lo these many years. Many of the criticisms are legitimate concerns, and Dr. Bhagwati gives an economist's response to them. He also discusses possible remedies in the form of government policies that could be implemented to lessen the adverse effects of the globalization process and enhance the benefits.
However, many of the criticisms of globalization are so ridiculous that they don't even deserve a response. Dr. Bhagwati devotes much of this book (too much in my opinion) to address them indepthly.
Also, as noted, some of the criticisms of globalization are legitimate especially possible adverse effects on the environment and tribal cultures. Dr. Bhagwati tries to write off these legitimate criticisms also. He would have been much wiser to recognize these very serious concerns.
And that is my major complaint about this book. The process of globalization can have a detrimental effect on some individuals and some groups. The book would have been much better had Dr. Bhagwati admitted this and addressed perhaps possible ways to reduce these adverse effects. To conclude that globalization is good for all and painless for all just isn't realistic.
The formal charges, levelled in the court of public opinion amid a backdrop of incendiary outrage, burst onto the front pages at the WTO meeting in Seattle in 1999. Never had a defendant been so blindsided by the passions of overzealous prosecution. To observers the outcome of the trial seemed a foregone conclusion the guilty verdict against globalization was all but a sure thing. The era of free trade was over.
But after the tear gas dissipated and the hysterical rantings of labor unions, environmentalists, and zealous isolationists quieted, it was time for the defense to make its presentation. And, to the great benefit of world progress, the team had some able advocates. Over the following years intellectuals like Brink Lindsay, Martin Wolf, and Tom Friedman shredded the overwraught and underthought indictment of the anti-globalists, with careful and insightful analysis of trade barriers and their insidious costs. And the distinguished Columbia professor Jagdish Bhagwati has delivered devastating de facto closing arguments in his cogent, understated masterwork "In Defense of Globalization".
To his great credit Bhagwati never allows emotion to intrude on his analysis of the impact of globalization on poverty, the environment, women's rights, labor standards, the development of democracy, and the fate of cultural traditions. The temptation must be great, since the empirical evidence he sprinkles liberally throughout the book demonstrates with little question that the reduction of trade barriers has the salutory effect of lifting incomes, the ostensible goal of all factions who see poverty reduction as a global imperative. But Bhagwati eschews inflated rhetoric for gentle guidance.
In short, he illustrates how globalization actually enhances labor standards by exporting better practices from the developed world; how wages are pushed up through the intercession of multi-nationals, in comparison with those on offer in impoverished nations' native industries; how women's education and health levels have improved as a result of initiatives in micro finance and export processing zones; how repressive political systems, not the nefarious greed of foreign corporations, often dictate the mistreatment of their citizen-laborers.
This is just a sampling of the many areas Bhagwati explores; part of what makes his argumentation so credible is his treatment of the negative effects of globalization, both temporary and chronic. Globalization will involve dislocation, job insecurity, financial imbalances; he admits as much early on, and uses his authority to recommend remdial measures, like job training subsidies and less onerous immigration laws, that make resounding sense. Though an obvious ardent proponent of globalization, he understands the fears it engenders, and renders those fears comprehensible.
In summation there is more than reasonable doubt that globalization is guilty of being a force for evil. And that's good, because globalization is happening. The verdict here, whatever the public court decides, is non-binding. Bhagwati's immeasurable contribution to the process is a voice that may make the world's more gullible citzenry aware that the stranger knocking at their door just might be named Opportunity.
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