Ralph Gomory and William Baumol adapt classical trade models to the modern world economy.In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the class…
World trade is governed by the rules of the World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT). The WTO sets rules of conduct for the international trade of goods and services and for intellectual property rights, provides a forum for multinational negotiations to resolve trade problems, and has a formal mechanism for dispute settlement. It is the…
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 fro…
Provocative essays on international trade, with particular focus on U.S. foreign trade policy. 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 …