Word: bhagwati
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Dates: during 2000-2009
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Many employers already pay minimum wage to illegal workers. Although some shifty employers may still exploit workers they can keep off the books, "I really don't think most serious corporations want that," says Jagdish Bhagwati, an economist at Columbia University. That's because, says John Gay, a lobbyist for the National Restaurant Association, "a steady supply of dependable labor is more important [than minimum wage] to employers trying to grow their business." Forecasts of labor shortages spook some employers; restaurants expect 15% job growth over 10 years, while the labor force is predicted to grow only...
...usual, and without a breakthrough there, little else can happen. Following recent inconclusive talks in London, expectations for Hong Kong are being drastically scaled back. "Unless a miracle happens, I don't see anything emerging in Hong Kong. Nobody I know believes a deal can be struck," frets Jagdish Bhagwati, a specialist in the economics of trade at the Council on Foreign Relations in New York. Pascal Lamy, the director-general of the WTO, acknowledged as much this month when he said that too little progress has been made even to have a full draft text of a new trade...
...Importing Knowledge Re your report on the Davos World Economic Forum [Jan. 31]: Those who defend economic globalization against the charge that it makes rich countries poor often refer to the reasoning of economist Jagdish Bhagwati and his colleagues. They maintain that it is not realistic to assume that globalization will take high-end jobs away from rich countries. Supporters of globalization say it is not probable for China or India to suddenly develop a huge number of workers with sophisticated and complex skills because the educational sectors in those countries face enormous difficulties. One of the advantages of globalization...
...taking their jobs. All for the sake of money. David Collinson Victoria, Canada Importing Knowledge Re your report on the Davos World Economic Forum [Jan. 31]: Those who defend economic globalization against the charge that it makes rich countries poor often refer to the reasoning of economist Jagdish Bhagwati and his colleagues. They maintain that it is not realistic to assume that globalization will take high-end jobs away from rich countries. Supporters of globalization say it is not probable that China or India will suddenly develop a huge number of workers with sophisticated and complex skills because the educational...
Globalization's defenders reply by saying, Relax: it will never happen. This counterblast (much of it in a 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...