Book Reviews
| Pages | 52-54 |
Page 52
Jagdish Bhagwati
In Defense of Globalization
Oxford University Press, New York, 2004, 304 pp., $28 (cloth).
THE NUMBER of books on dieting and weight loss still outnumber those on globalization, but there is no shortage of the latter. So why bother with yet another book on globalization?
Jagdish Bhagwati's latest book, In Defense of Globalization, merits attention for several reasons. First, the author is one of the world's most distinguished and creative international economists. Unlike many other globalization authors, Bhagwati is not an ideologue but revels in sifting through arguments and ideas. He accentuates the positive in this spirited defense of globalization, but he is more of an intelligent teacher than an advocate or cheerleader. As a teacher, he is openminded in his willingness to ponder and consider both sides of an issue and evaluate which of many different positions are most consistent with logic and evidence.
Second, he is among the few economists who have stood up and become part of the public debate. He is a prolific writer in major newspapers and magazines. He has engaged the antiglobalization protesters in Seattle and elsewhere. He has debated Ralph Nader, Naomi Klein, and other opponents of the current system. As a result, he knows the arguments and concerns on both sides of the globalization divide more than anyone. No one is in a better position to respond to the criticisms and fears of the antiglobalists.
Finally, while other books on globalization tend to focus on one aspect of the issue, be it global trade or capital flows or labor migration, Bhagwati deals with all of these aspects. No other book on globalization covers as wide a range of issues as Bhagwati's. Indeed, his book is the best one-stop shopping for readers seeking a panoramic view of all the controversies that make up the globalization debate.
On NGOs, Bhagwati argues that "halos should not be shields" against public scrutiny.
The core of the book is devoted to what Bhagwati calls the "human face" of globalization. He addresses globalization and poverty, child labor, women, democracy, culture, labor standards, the environment, and corporations. With subtlety and sophistication, he considers whether globalization has been beneficial or harmful, a boon or a menace. In each case, Bhagwati brings in new perspectives and refreshing insights. Perhaps as a result of his frequent debates with antiglobalization activists, he particularly goes after what he calls "gotcha" examples-the story or the anecdote that sounds good and has some superficial plausibility (such as the idea of a "race to the bottom") but, upon reflection, is found to be largely devoid of substance.
In defending globalization, however, Bhagwati does not fall prey to the "best of all possible worlds" fallacy. While noting that the income gains that accompany trade liberalization tend to reduce child labor, he condemns cross-country trade in children and argues for measures to stop that horrible practice. Though supportive of the World Trade Organization (WTO), Bhagwati objects to the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement. He was one of the first to make a sharp distinction between the free movement of goods and the free movement of (portfolio) capital, noting the benefits of the former and the pitfalls of the latter. (He entitles one chapter "The Perils of Gung-ho International Financial Capitalism.")
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