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"Learning is acquired by reading books, but the much more necessary learning, the knowledge of the world, is only to be acquired by reading men, and studying all the various facets of them."
- Lord Chesterfield
(1694 - 1773)
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ZIN Product Number: 10052028
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| | | |  | | | Product Details
 Format: Hardcover, 408 pages
Publisher: The M.I.T. Press
ISBN: 0262024950
Release Date: Jan 1, 1999
| |  | | | In Brief
Provocative essays on international trade, with particular focus on U. S. foreign trade policy.
| | | | From The Publisher
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 pursuingglobalization that much more difficult.
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| | | | | | The Reader's Catalog
Bhagwati argues that the true scandal of the Clinton administration was its failure to effectively manage globalization and the freeing of international trade. "A constructive, if controversial, contribution to an important public policy debate" — Mary Carroll, Booklist
| |  | | | | Preface | | | Introduction | | | I | The Two-Edged Sword: Capital Flows | 1 | | 1 | The Capital Myth: The Difference between Trade in Widgets and Dollars | 3 | | 2 | Why Free Capital Mobility May Be Hazardous to Your Health | 13 | | 3 | Free Trade, Yes; Free Capital Flows, Maybe | 21 | | II | From Miracle to Debacle: The Asian Drama | 25 | | 4 | The "Miracle" That Did Happen: Understanding East Asia in Comparative Perspective | 27 | | 5 | The Asian Economic Crisis: What Do We Know Now? | 51 | | 6 | A Friend in the United States, but a Crony in Asia | 61 | | III | Free Trade Fair Trade, Wages, and Human Rights | 65 | | 7 | Free Trade in the Twenty-First Century: Managing Viruses, Phobias, and Social Agendas | 69 | | 8 | Free Trade: Why the AFL-CIO, Ralph Nader, and the Sierra Club Should Like It | 87 | | 9 | The Folly of "Fair Trade" | 105 | | 10 | Is Free Trade Working for Everyone? | 109 | | 11 | Play It Again, Sam: A New Look at Trade and Wages | 121 | | 12 | Globalization: Who Gains, Who Loses? | 137 | | 13 | Moral Obligations and Trade | 153 | | 14 | Trade Linkage and Human Rights | 157 | | 15 | On the Efficacy of Trade Sanctions | 169 | | 16 | Fast Track: Not So Fast | 173 | | 17 | Short on Trade Vision | 177 | | 18 | Global Fixes | 179 | | 19 | Fifty Years: Looking Back, Looking Forward | 183 | | 20 | On Thinking Clearly about the Linkage between Trade and the Environment | 189 | | 21 | Mismanaging the Banana Dispute | 203 | | 22 | An Economic Perspective on the Dispute Settlement Mechanism | 205 | | 23 | Trade and Culture: America's Blind Spot | 209 | | 24 | The West's Triumph: Did Culture Do It? | 215 | | IV | Regionalism, Multilateralism, and Unilateralism | 225 | | 25 | Fast Track to Nowhere | 227 | | 26 | On the Perils of SAPTA | 235 | | 27 | The FTAA Is Not Free Trade | 239 | | 28 | Think Big, Mr. Clinton | 251 | | 29 | In Favor of China's Entry into WTO | 255 | | 30 | Free Trade without Treaties | 261 | | V | The Debacle in Seattle | 265 | | 31 | WTO's First Round: The Seattle Agenda | 267 | | 32 | Labour Standards and the WTO: The Case of Separate Agendas | 273 | | 33 | Don't Muddy the Waters | 281 | | 34 | Did Clinton Take a Dive in Seattle? | 285 | | 35 | What Really Happened in Seattle? | 287 | | VI | Investment and Immigration | 291 | | 36 | Illegals in Our Midst: Getting Policy Wrong | 293 | | 37 | Why Borjas Fails to Persuade | 299 | | 38 | A Close Look at the Newest Newcomers: Immigration Debate Takes Skill | 309 | | 39 | Who Needs the Multilateral Agreement on Investment? | 313 | | VII | Globalization | 315 | | 40 | But Mr. Clinton, Globalization Has a Human Face | 317 | | 41 | Globalization, Sovereignty, and Democracy | 323 | | 42 | Poverty and Reforms: Friends or Foes? | 343 | | 43 | Growth Is Not a Passive "Trickle-Down" Strategy | 357 | | 44 | Living with Globalization | 359 | | 45 | The Global Debate | 363 | | 46 | Globalization in Your Face | 365 | | Index | 373 |
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| | | | | | Keywords
United States, Foreign economic relations, Commercial policy, Free trade, Capital movements, International Economic Relations, International - Taxation, Business / Economics / Finance, Business & Economics, Economic History, International - Economics, International Relations - General, Political Science, United States, Economic aspects, Foreign economic relations, Free trade, Commercial policy, Social aspects, Capital movements, Globalization
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