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...best intellectual case for this argument was made last year by Paul Samuelson, a Nobel prizewinner, a professor emeritus at M.I.T. and one of the most respected economists of all time. Samuelson took aim at the theoretical underpinning of globalization. For its proponents, globalization is the latest proof of the virtues of free trade, for which the case was first made in 1817 by the British economist David Ricardo. Ricardo argued that trade was always beneficial because it encourages nations to specialize in the products at which they are best and import those they are less good...

Author: /time Magazine | Title: The Davos Man | 1/23/2005 | See Source »

...paper written by Columbia University's Jagdish Bhagwati, today's unchallenged intellectual champion of free trade) has two parts. First, free trade's defenders say, it is unrealistic to assume that China or India will suddenly develop a monstrous capacity in high-end, high-technology innovation. "The oft repeated argument that India and China will quickly educate 300 million of their citizens to acquire sophisticated and complex skills," write Bhagwati and his colleagues, "borders on the ludicrous. The educational sectors in those countries face enormous difficulties." This rings true. For the past few months, there have been reports of skilled...

Author: /time Magazine | Title: The Davos Man | 1/23/2005 | See Source »

Such abstract arguments do not address the real concerns of American workers whose jobs have moved overseas. But the true nature of their plight might be easier to understand if leaders were more honest about what lurks behind the globalization-makes-you-poor argument. In 1945, when almost every potentially rich economy apart from the U.S. lay amid the rubble of war, the U.S. accounted for about 50% of world economic output, and U.S. wages were much higher than those elsewhere. But other nations caught up--first Western Europe, then Japan, then Southeast Asia, then Eastern Europe, now India...

Author: /time Magazine | Title: The Davos Man | 1/23/2005 | See Source »

Hastrup makes the mistake of believing one can isolate abortion from other important rights. By ignoring the importance of the broader issue, he does his argument, and us all, a disservice...

Author: By Justine M. Nagurney, | Title: Toppling Abortion Would Have Far-Reaching Consequences | 1/21/2005 | See Source »

...backward." Technically, Federer is near to perfect. Roche certainly won't have to take apart and rebuild any of the Swiss's strokes, as he did with Pat Rafter's forehand in the 1990s. But maybe Federer could play a smarter game. The thrust of Alexander's argument is that because Federer's shotmaking from the baseline is so preposterously good, he can be a little lazy about advancing to the net for the quick kill. "It's not making any difference at the moment, but eventually his opponents will lift," says Alexander, who nominates world No. 3 Lleyton Hewitt...

Author: /time Magazine | Title: In Search of a Slam | 1/17/2005 | See Source »

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