This Essay Will Be A Detailed Analysis Of A Book Which Deals

This Essay Will Be A Detailed Analysis Of A Book Which Deals With A S

This essay will be a detailed analysis of a book, which deals with a salient topic in International Political Economy, and its relevance to today’s dialogue on global political and economic issues. This paper will be roughly 6-8 pages in length. Instructions for the assignment: The purpose of this critical book view is to analyze the author’s argument. Think of why I have assigned this book; or for the ones who have chosen their own book, what was your rationale in choosing that book? What is its relevance in the current discourse of IPE and its respective issue-area?

What is the author’s argument? What have other authors said (from what you’ve read in other classes, and in this class) that either corroborates or negates their theoretical perspectives? I do not want a mere summary of the book: I want a critical assessment of the material, and would like to see your creativity in dissecting the work of these respected authors. Some books are a few years older than others. So, do their arguments still hold up in today’s global economy, with the ever-shifting power dynamic amongst states?

If they don’t, why? You could posit your own counter-argument, if you disagree with what the author says. Make sure to provide empirical evidence to support your claims. Essays should be 6-7 pages (double-spaced) in length, 12-point, and MLA format. No plagiarism, as this is grounds for failing the entire course (which I have done before, without batting an eyelash).

You can use whatever additional sources you’d like to include, as evidentiary support to your argument; just cite properly. PICK ONE BOOK FROM THE FOLLOWING : (This is the list of books to choose from) Kerry Chase - Trading Blocs: States, Firms, and Regions in the World Economy Stephen Cohen - Multinational Corporations and Foreign Direct Investment: Avoiding Simplicity Jagdish Bhagwati - In Defense of Globalization Daron Acemoglu & James Robinson – Why Nations Fail Ha-Joon Chang – Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism Sakiko Fukuda-Parret al. - Critical and Feminist Perspectives on Financial and Economic Crises Lourdes Beneria et al. – Gender, Development and Globalization: Economics as if All People Mattered Paul Krugman – End This Depression Now Jeremy R. Haft - Unmade in China: The Hidden Truth about China's Economic Miracle Dambisa Moyo - Dead Aid: Why Aid is Not Working and How There is a Better Way for Africa

Paper For Above instruction

The selected book for this critical analysis is "In Defense of Globalization" by Jagdish Bhagwati. Bhagwati’s work offers a compelling and in-depth argument supporting globalization, emphasizing its potential benefits while addressing concerns often raised about its adverse effects. This essay critically examines Bhagwati’s rationale, contextualizing his argument within the broader discourse of International Political Economy (IPE). It also evaluates whether his assertions remain valid in today’s rapidly evolving global economic landscape, considering recent developments such as rising economic nationalism, technological disruption, and the shifting power dynamics among nations.

Bhagwati’s core argument revolves around the idea that globalization, when managed properly, enhances economic growth, reduces poverty, and promotes international cooperation. He contends that fears about globalization leading to inequality or job losses are often exaggerated or the result of poor policy choices rather than inherent flaws in the process. Bhagwati advocates for a balanced approach, emphasizing that open markets foster competition, innovation, and access to broader markets, ultimately benefiting developing economies and advanced nations alike. This perspective aligns with classical economic theories that highlight the gains from free trade and comparative advantage.

Critics of globalization, including proponents of protectionism or critics of neoliberal policies, argue that globalization exacerbates inequality and undermines domestic industries. Some scholars suggest that Bhagwati’s optimistic outlook underestimates the negative social and economic dislocation experienced by certain groups, especially in advanced economies. For instance, Richard Baldwin’s work on “global supply chains” highlights the complex reality where increased trade can lead to job insecurities in specific sectors, challenging Bhagwati’s largely positive portrayal.

Comparing Bhagwati’s perspectives with those of Daron Acemoglu and James Robinson in "Why Nations Fail," reveals contrasting views on the role of institutions in economic development. While Bhagwati emphasizes market openness, Acemoglu and Robinson stress the importance of inclusive institutions that foster innovation and prevent inequality. Their analysis suggests that globalization’s benefits are not automatic but depend heavily on domestic policies and institutional quality. In today’s context, where some countries experience economic resilience despite globalization, while others face stagnation or regression, this debate remains pertinent.

Furthermore, recent empirical data indicate that the predicted benefits of globalization have not been uniformly distributed, with rising inequality within nations fueling populist and protectionist sentiments. The "China shock" and the decline of manufacturing in Western countries exemplify the complex impacts of globalization, calling into question Bhagwati’s assumption of inevitable positive outcomes without sufficient safeguards.

In light of these developments, I argue that while Bhagwati’s support for globalization holds theoretical validity, practical application requires robust domestic policies to manage social dislocations and ensure that benefits are widely shared. For example, social safety nets, workforce retraining programs, and regulatory oversight are essential to mitigate adverse effects. Therefore, my counter-argument emphasizes that globalization’s success depends not solely on market forces but on deliberate policy interventions tailored to national contexts.

In conclusion, Bhagwati’s "In Defense of Globalization" provides a vital perspective in the debate on global economic integration. It reaffirms the potential for globalization to promote growth and reduce poverty when appropriately managed. However, the contemporary global economy presents challenges that necessitate reforms in policy and institutional frameworks to truly realize these benefits equitably. The evolving nature of global power dynamics, technological advancements, and social inequalities demand a nuanced approach that balances openness with safeguards, making Bhagwati’s perspective a valuable but incomplete guide in today’s complex economic environment.

References

• Bhagwati, Jagdish. (2004). In Defense of Globalization. Oxford University Press.
• Baldwin, Richard. (2016). The Globotics Upendment: How Technology Is Challenging the Future of Work. Princeton University Press.
• Acemoglu, D., & Robinson, J. A. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Crown Publishing Group.
• Rodrik, D. (2018). Straight Talk on Trade. Princeton University Press.
• Stiglitz, J. (2002). Globalization and Its Discontents. W.W. Norton & Company.
• Friedman, M. (2006). The World Is Flat: A Brief History of the Twenty-First Century. Farrar, Straus and Giroux.
• Rodrigue, J.-P., Comtois, C., & Slack, B. (2017). The Geography of Transport Systems. Routledge.
• Schwab, K. (2016). The Fourth Industrial Revolution. World Economic Forum.
• Oatley, T. (2019). International Political Economy. Routledge.
• Levitz, W. (2003). Globalization and Its Discontents: Essays on the New Politics of Global Economy. Routledge.