Political Economy and International Economics

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Political Economy and International Economics is the fifth volume of collected essaysby the noted economist Jagdish Bhagwati. Following Essays in International Economic Theory (editedby Robert Feenstra) and Essays in Development Economics (edited by Gene Grossman), it reflectsBhagwati's wide range of interests and his rare ability to combine economic theory and politicalanalysis.Many of Bhagwati's writings provide fresh insights into old problems, from the theory ofcommercial policy, to foreign investment and labor migration; others open up new areas such asservices to analysis. Recent work on the theory of political economy, including DUP (directlyunproductive profit-seeking) activities and quid pro quo direct investment, breaks new ground. Alsoincluded are a number of previously inaccessible lectures covering such important issues as povertyand public policy. Cutting across several fields of economics, including public finance anddevelopment, these provide masterly syntheses and overviews of broader issues.Jagdish Bhagwati isArthur Lehman Professor of Economics and Professor of Economics at Columbia University. He is thefounding editor of the new journal Economics and Politics. Douglas A. Irwin is an economist with theBoard of Governors of the Federal Reserve System.

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