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Jagdish Bhagwati Biography
Born in 1934 in Bombaim, in India,
professor Bhagwati is one of the most prestigious economists in the area
of International Commerce and Economical Development and also one of the
investigators that more deeply influenced the economical policy of the
last 30 years. From his work, expressed in more than 300 articles and 50
books, are particularly emphasized the contributions for the Theory of
Free Commerce, Theory of Preferential Commerce and Growth Theory.
On an article published in 1963 in the
Journal of Political Economy, Bhagwati showed that an existence of a
market failure at a domestic market’s level doesn’t justify the
implementation of commercial barriers. After 200 years of protectionist
measures’ defense based in defects of several nature markets, this
article had a very significant impact of acceptance, actually
generalized, from the beginning that the free commerce is a privileged
instrument of the economic policy that has as goal to raise prosperity
and well being of the people. This article’s impact was evident on more
than the 100 articles that it originated, published in economy
scientific magazines.
Other fundamental contributions of the
professor Bhagwati took place in the multilateral free commerce and the
identification and analysis of the problems deriving from the
preferential agreements of free commerce. Bhagwati was the first one to
show that the hegemonic powers typically prefer this type of exclusive
agreements, which allow them to negotiate non commercial grants with
target countries. The rates’ political economy was clarified decisively
as a result of his investigation and the equivalence inexistence between
rates and shares was demonstrated. The Theory of Impoverishing Growth
also influenced decisively the understanding of the implications,
potentially negative, as to well being of high investments rates.
An outstanding characteristic of professor
Bhagwati’s career it’s his interest and impact on the economical policy.
Along with a scientific investigation oriented for the academic analysis
of economical policies occupied several places, at the highest levels,
with responsibility on the formulation of policies. So, beyond being
professor at the University of Columbia is a Senior Member of the
Council on Foreign Relations. Was Counselor of Economical Policy, of the
GATT (General Agreement on Tariffs and Trade) General Manager, ONU’s
Special Counselor for the globalization and External Counselor of the
Worldwide Commerce Organization. He joined the specialists’ group that
analyzed the future of this organization and the Consulting Council of
the General Secretary Kofi Annan. Was also part of the Personalities
Group appointed by the President Fernando Henrique Cardoso to study the
future of UNCTAD (United Nations Conference on Trade and Development).
Translated from Portuguese
by Susana Saraiva, Portuguese-English and English-Portuguese translation
specialist. Contact: spams@sapo.pt.
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