World-renowned economics expert Jagdish Bhagwati spoke to a packed house in Reynolds Theater Friday, defending an innovative breed of globalization that encompasses human rights. Bhagwati, who has written dozens of books and hundreds of articles, founded two economics journals and served as a high-level advisor to United Nations Secretary-General Kofi Annan, spoke as part of the economics department’s Johnson Distinguished Lecture Series.
He presented methods that governments and international institutions can implement to ensure the protection of human rights in an era of ever-increasing international trade.
“Do [current human rights violations] have anything to do with globalization? Is globalization accentuating or dampening these issues? Does it lack a human face or does it have one at all?” Bhagwati rhetorically asked the audience. He noted that globalization is a contributor to human rights violations around the world, and the way to minimize the negative effects of globalization is to give these problems a human face. As a result Bhagwati has taken it upon himself to bring humanity into the traditional international trade equation.
Today, “developing countries are being ‘had,’” Bhagwati said. Although theory predicts that economic expansion due to globalization will eventually heal its own growing pains, some experts, including Bhagwati, are afraid that the healing will not happen soon enough. Nonetheless, Bhagwati noted that globalization does not necessitate detrimental effects on the developing world.
His lecture brought to light the concept of “free-er” trade and its positive implications for social welfare and reform. He explained that “free-er” trade is ironically less free than the system currently in place across the globe. His concept includes more adjustment assistance programs for developing nations transitioning into the liberalized realm of globalized economics.
Governments and international institutions such as the United Nations, World Bank and International Monetary Fund need to not only create these programs and standards, but more importantly, to enforce them. These programs would create “free-er” trade because they would level the playing field and foster greater competition.
Individuals with unique political, social and economic backgrounds came together in an international audience, drawing a diverse crowd of students, professors and community members. Despite their differences, the audience welcomed Bhagwati’s perspective on globalization.
“In the midst of all the problems and suffering that people around the world deal with, Professor Bhagwati looks at the situation with optimism and a vision for overall improvement for all people,” sophomore Maureen Kennelly said.
Other attendees appreciated what Bhagwati identified as an “unbiased” analysis of the globalization debate, which he attributed to the fact that he has never consulted with a corporation or been a member of a corporate board. “I think he gave a very balanced account. Contrary to popular belief, those that are in favor of globalization care about social welfare issues as well,” junior Breck Yunits said.
Whatever their reason was for attending the lecture, audience members were eager to come face-to-face with the expert. “Reading him on paper does not do justice to how lively and engaging he is in person,” senior Eli Silverman said. “It’s important to see both views of the issue before coming to a personal conclusion.”
Some students, such as sophomore Jimmy Soni, went to great lengths to attend the lecture. “I skipped a class that I really enjoy to be here, but it was well worth it to hear him speak—I’m a big admirer of Dr. Bhagwati’s work,” Soni said.
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