Jagdish Natwarlal Bhagwati (born July 26, 1934) is an Indian-born
naturalized American economist and one of the most influential trade theorists of his generation.
He is a
University Professor
Professor (commonly abbreviated as Prof.) is an academic rank at universities and other post-secondary education and research institutions in most countries. Literally, ''professor'' derives from Latin as a "person who professes". Professor ...
of economics and law at
Columbia University
Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...
and a Senior Fellow in International Economics at the
Council on Foreign Relations
The Council on Foreign Relations (CFR) is an American think tank
A think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, mi ...
. He has made significant contributions to international
trade theory and economic development.
He is widely regarded as the intellectual father of the
Indian economic reforms of 1991. He is the only professor in American academia to have a chair named after him while he was still teaching at the university. He is one of only 10 scholars who hold the title of University Professor at
Columbia University
Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...
.
Bhagwati is the recipient of several prestigious awards, including the
Order of the Rising Sun
The is a Japanese order, established in 1875 by Emperor Meiji. The Order was the first national decoration awarded by the Japanese government, created on 10 April 1875 by decree of the Council of State. The badge features rays of sunlight ...
,
Padma Vibhushan
The Padma Vibhushan ("Lotus Decoration") is the second-highest Indian honours system, civilian award of the Republic of India, after the Bharat Ratna. Instituted on 2 January 1954, the award is given for "exceptional and distinguished service" ...
, Frank Seidman Distinguished Award in Political Economy and the Freedom Prize of
Switzerland
). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
.
In 2014, the
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
called him “one of the most outstanding economists of his generation never to have won the Nobel Prize”. This view is shared by his peers including
Nobel Prize
The Nobel Prizes ( ; sv, Nobelpriset ; no, Nobelprisen ) are five separate prizes that, according to Alfred Nobel's will of 1895, are awarded to "those who, during the preceding year, have conferred the greatest benefit to humankind." Alfr ...
winning economist
Paul Krugman
Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was th ...
, "The crucial point for me is that people didn’t understand at all clearly how distortions in a
trading
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.
An early form of trade, barter, saw the direct excha ...
economy relate to policy before Jagdish spelled it out. Once he did, it became so clear that it was hard to believe that someone had to point it out. In my view, that makes his work Nobel-worthy."
Early years and personal life
Bhagwati was born in 1934, into a
Gujarati
Gujarati may refer to:
* something of, from, or related to Gujarat, a state of India
* Gujarati people, the major ethnic group of Gujarat
* Gujarati language, the Indo-Aryan language spoken by them
* Gujarati languages, the Western Indo-Aryan sub ...
family in the Bombay Presidency during the British Raj. He is the son of Indian judge
Natwarlal H. Bhagwati and the brother of
P. N. Bhagwati, former
Chief Justice of India and also of S.N. Bhagwati, an eminent neurosurgeon who served as the president of the
Neurological Society of India
The Neurological Society of India (NSI) is the apex body representing neuroscientists of the country. It was founded in 1951 by Jacob Chandy, Balasubramaniam Ramamurthi, S. T. Narasimhan, and Baldev Singh, who together have been credited to be ...
.
Bhagwati attended St. Xavier’s High School and received a
BCom
A Bachelor of Commerce (abbreviated BComm or BCom; also, ''baccalaureates commercii'') is an undergraduate degree in business, usually awarded in Canada, Australia, India, Sri Lanka, Pakistan, Ireland, New Zealand, Ghana, South Africa ...
from
Sydenham College
Sydenham College of Economics is a college located in Mumbai, Maharashtra, India. It is affiliated to the Dr. Homi Bhabha State University. The college offers undergraduate and postgraduate degrees in management. It was awarded a re-accreditat ...
,
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
He then traveled to England to study at
St. John's College, Cambridge
St John's College is a constituent college of the University of Cambridge founded by the Tudor matriarch Lady Margaret Beaufort. In constitutional terms, the college is a charitable corporation established by a charter dated 9 April 1511. The ...
, receiving a second BA at Cambridge (in economics) in 1956. Between 1957 and 1959 he studied at
Nuffield College, Oxford
Nuffield College () is one of the constituent colleges of the University of Oxford in England. It is a graduate college and specialises in the social sciences, particularly economics, politics and sociology. Nuffield is one of Oxford's newer co ...
. He received a
PhD in economics from the
Massachusetts Institute of Technology
The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...
in 1967 for a thesis titled "Essays in International Economics," supervised by
Charles P. Kindleberger
Charles Poor Kindleberger (October 12, 1910 – July 7, 2003) was an American economic historian and author of over 30 books. His 1978 book ''Manias, Panics, and Crashes'', about speculative stock market bubbles, was reprinted in 2000 after the ...
. He has also received
honorary degrees
An honorary degree is an academic degree for which a university (or other degree-awarding institution) has waived all of the usual requirements. It is also known by the Latin phrases ''honoris causa'' ("for the sake of the honour") or ''ad hono ...
from the
University of Sussex
, mottoeng = Be Still and Know
, established =
, type = Public research university
, endowment = £14.4 million (2020)
, budget = £319.6 million (2019–20)
, chancellor = Sanjeev Bhaskar
, vice_chancellor = Sasha Roseneil
, ...
and
Erasmus University
Erasmus University Rotterdam (abbreviated as ''EUR'', nl, Erasmus Universiteit Rotterdam ) is a public research university located in Rotterdam, Netherlands. The university is named after Desiderius Erasmus Roterodamus, a 15th-century humanist ...
, as well as others.
Bhagwati is married to
Padma Desai, also a Columbia economist and Russia-specialist; they have one daughter. Bhagwati and Desai's joint 1970 OECD study ''India: Planning for Industrialization'' was a notable contribution at the time.
Career
After completing his PhD, Bhagwati returned to India in 1961, first to teach briefly at the
Indian Statistical Institute
Indian Statistical Institute (ISI) is a higher education and research institute which is recognized as an Institute of National Importance by the 1959 act of the Indian parliament. It grew out of the Statistical Laboratory set up by Prasanta ...
, Kolkata, and then as professor of international trade at
Delhi School of Economics
Delhi School of Economics (DSE), popularly referred to as "D School", is a Higher Educational Institution within the University of Delhi. The Delhi School of Economics is situated in University of Delhi's North Campus in Maurice Nagar. Establ ...
at the
University of Delhi
Delhi University (DU), formally the University of Delhi, is a collegiate central university located in New Delhi, India. It was founded in 1922 by an Act of the Central Legislative Assembly and is recognized as an Institute of Eminence (IoE) ...
, from 1962 to 1968. He then returned to American academia and from 1968 until 1980, Bhagwati was the Ford International Professor of Economics at the
Massachusetts Institute of Technology
The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...
.
From 1980 he taught economics at
Columbia University
Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...
, where he was Arthur Lehman Professor of Economics and Professor of Political Science and later University Professor, Economics and Law. He is one of the only 10 scholars who hold the title of University Professor at
Columbia University
Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...
.
Bhagwati is a Senior Fellow of the
Council on Foreign Relations
The Council on Foreign Relations (CFR) is an American think tank
A think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, mi ...
in
New York and is a Member of the
National Academy of Sciences
The National Academy of Sciences (NAS) is a United States nonprofit, non-governmental organization. NAS is part of the National Academies of Sciences, Engineering, and Medicine, along with the National Academy of Engineering (NAE) and the Nati ...
and the
American Philosophical Society
The American Philosophical Society (APS), founded in 1743 in Philadelphia, is a scholarly organization that promotes knowledge in the sciences and humanities through research, professional meetings, publications, library resources, and communit ...
. He currently serves on the Academic Advisory Board of
Human Rights Watch
Human Rights Watch (HRW) is an international non-governmental organization, headquartered in New York City, that conducts research and advocacy on human rights. The group pressures governments, policy makers, companies, and individual human r ...
(Asia) and on the board of scholars of the
Centre for Civil Society
Centre for Civil Society (CCS) is a non-profit think tank based in New Delhi. The Centre was founded in 1997 by Dr Parth J Shah, former Professor of Economics at the University of Michigan. It operates as an independent educational organisatio ...
.
He has held several important positions internationally, including special adviser to the
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be ...
on globalization, economic policy adviser to
Arthur Dunkel-the director-general of
General Agreement on Tariffs and Trade
The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its pre ...
and external adviser to the
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation
in the United Nations System, governments use the organization to establish, revise, and e ...
. He has also worked as a member of group appointed by the director-general of the
WTO
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation
in the United Nations System, governments use the organization to establish, revise, and e ...
on the future of the
WTO
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation
in the United Nations System, governments use the organization to establish, revise, and e ...
.
He was also a member of the advisory committee to
UN Secretary General
Kofi Annan
Kofi Atta Annan (; 8 April 193818 August 2018) was a Ghanaian diplomat who served as the seventh secretary-general of the United Nations from 1997 to 2006. Annan and the UN were the co-recipients of the 2001 Nobel Peace Prize. He was the founder ...
on the
New Partnership for Africa’s Development, an economic program accelerating economic co-operation and integration among African countries.
In May, 2004, Bhagwati was one of the experts who took part in the
Copenhagen Consensus
Copenhagen Consensus is a project that seeks to establish priorities for advancing global welfare using methodologies based on the theory of welfare economics, using cost–benefit analysis. It was conceived and organized around 2004 by Bjørn Lo ...
project.
In 2006, Bhagwati was a part of the Eminent Persons Group along with Brazilian President
Fernando Henrique Cardoso
Fernando Henrique Cardoso (; born 18 June 1931), also known by his initials FHC (), is a Brazilian sociologist, professor and politician who served as the 34th president of Brazil from 1 January 1995 to 31 December 2002. He was the first Brazi ...
on the future of
United Nations Conference on Trade and Development (UNCTAD). In early 2010, Bhagwati joined the advisory board of the Institute for Migrant Rights in Indonesia.
In 2000, Bhagwati was signatory to an amicus briefing, coordinated by the
American Enterprise Institute
The American Enterprise Institute for Public Policy Research, known simply as the American Enterprise Institute (AEI), is a center-right Washington, D.C.–based think tank that researches government, politics, economics, and social welfare. ...
, with the
Supreme Court of the United States
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point o ...
to contend that the
Environmental Protection Agency
A biophysical environment is a biotic and abiotic surrounding of an organism or population, and consequently includes the factors that have an influence in their survival, development, and evolution. A biophysical environment can vary in scale f ...
should, contrary to a prior ruling, be allowed to take into account the costs of regulations when setting environmental standards.
In January 2004, Bhagwati published ''In Defense of Globalization,'' a book in which he argues that
globalization
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20t ...
, when properly governed, is the most powerful force for social good in the world today. He described how globalization helps the cause of women, reduces child labor and increases literacy. He makes a point that:
... this process f globalizationhas a human face, but we need to make that face more agreeable.
Jagdish Bhagwati was the fictional winner of the Nobel Prize in Economics in
The Simpsons
''The Simpsons'' is an American animated sitcom created by Matt Groening for the Fox Broadcasting Company. The series is a satirical depiction of American life, epitomized by the Simpson family, which consists of Homer, Marge, Bart, Lisa, ...
episode
Elementary School Musical (The Simpsons)
"Elementary School Musical" is the twenty-second season premiere of the American animated television series ''The Simpsons''. It originally aired on the Fox network in the United States on September 26, 2010. In this episode, Krusty the Clown inv ...
.
Awards, honors and commentary
* Mahalanobis Memorial Medal of the Indian Econometric Society (1974)
* Fellow of the
American Academy of Arts and Sciences
The American Academy of Arts and Sciences (abbreviation: AAA&S) is one of the oldest learned societies in the United States. It was founded in 1780 during the American Revolution by John Adams, John Hancock, James Bowdoin, Andrew Oliver, and ...
(1982)
*Member of the
American Philosophical Society
The American Philosophical Society (APS), founded in 1743 in Philadelphia, is a scholarly organization that promotes knowledge in the sciences and humanities through research, professional meetings, publications, library resources, and communit ...
(1995)
* Seidman Distinguished Award in International Political Economy (1998)
*
Padma Vibhushan
The Padma Vibhushan ("Lotus Decoration") is the second-highest Indian honours system, civilian award of the Republic of India, after the Bharat Ratna. Instituted on 2 January 1954, the award is given for "exceptional and distinguished service" ...
Award (2000)
* Lifetime Achievement Award of the Indian Chamber of Commerce (2004)
*
Order of the Rising Sun
The is a Japanese order, established in 1875 by Emperor Meiji. The Order was the first national decoration awarded by the Japanese government, created on 10 April 1875 by decree of the Council of State. The badge features rays of sunlight ...
, Gold and Silver Star (2006)
*Member of the
National Academy of Sciences
The National Academy of Sciences (NAS) is a United States nonprofit, non-governmental organization. NAS is part of the National Academies of Sciences, Engineering, and Medicine, along with the National Academy of Engineering (NAE) and the Nati ...
(2012)
Nobel laureate
Paul Samuelson
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "h ...
, on the occasion of Bhagwati's 70th birthday ''
festschrift
In academia, a ''Festschrift'' (; plural, ''Festschriften'' ) is a book honoring a respected person, especially an academic, and presented during their lifetime. It generally takes the form of an edited volume, containing contributions from the h ...
'' conference in Gainesville, Florida in January 2005 said:
I measure a scholar's prolific-ness not by the mere number of his publishings. Just as the area of a rectangle equals its width times its depth, the quality of a lifetime accomplishment must weight each article by its novelties and wisdoms. ... Jagdish Bhagwati is more like Haydn
Franz Joseph Haydn ( , ; 31 March 173231 May 1809) was an Austrian composer of the Classical period. He was instrumental in the development of chamber music such as the string quartet and piano trio. His contributions to musical form have led ...
: a composer of more than a hundred symphonies and no one of them other than top notch. ... In the struggle to improve the lot of mankind, whether located in advanced economies or in societies climbing the ladder out of poverty, Jagdish Bhagwati has been a tireless partisan of that globalization which elevates global total-factor – productivities both of richest America and poorest regions of Asia and Africa.
Other awards include the Bernhard Harms Prize (Germany), the Kenan Enterprise Award (United States), the Freedom Prize (Switzerland), and the
John R. Commons
John Rogers Commons (October 13, 1862 – May 11, 1945) was an American institutional economist, Georgist, progressive and labor historian at the University of Wisconsin–Madison.
Early years
John R. Commons was born in Hollansburg, Ohio on ...
Award (United States). He has also received
honorary degrees
An honorary degree is an academic degree for which a university (or other degree-awarding institution) has waived all of the usual requirements. It is also known by the Latin phrases ''honoris causa'' ("for the sake of the honour") or ''ad hono ...
from the
University of Sussex
, mottoeng = Be Still and Know
, established =
, type = Public research university
, endowment = £14.4 million (2020)
, budget = £319.6 million (2019–20)
, chancellor = Sanjeev Bhaskar
, vice_chancellor = Sasha Roseneil
, ...
and
Erasmus University
Erasmus University Rotterdam (abbreviated as ''EUR'', nl, Erasmus Universiteit Rotterdam ) is a public research university located in Rotterdam, Netherlands. The university is named after Desiderius Erasmus Roterodamus, a 15th-century humanist ...
, as well as others.
Bibliography
Books
*
*
*
*
*
*
*
*
* Jagdish N. Bhagwati (editor) (1977
''The New International Economic Order: The North-South Debate''
.
*
Articles
*
*
*
*
See also
* Globalization
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20t ...
* Indians in the New York City metropolitan area
Indians in the New York City metropolitan area constitute one of the largest and fastest-growing ethnicities in the New York City metropolitan area of the United States. The New York City region is home to the largest and most prominent Indian ...
* "Spaghetti Bowl" Effect
References
External links
Homepage of Professor Jagdish Bhagwati
Columbia University website, accessed March 2004.
*
*
*
{{DEFAULTSORT:Bhagwati, Jagdish
Living people
1934 births
People from Mumbai
Indian emigrants to the United States
Alumni of St John's College, Cambridge
American economists
Columbia University faculty
Fellows of the American Academy of Arts and Sciences
Fellows of the Econometric Society
Members of the United States National Academy of Sciences
20th-century Indian economists
International economists
MIT School of Humanities, Arts, and Social Sciences alumni
Recipients of the Padma Vibhushan in literature & education
Trade economists
Delhi University faculty
University of Mumbai alumni
Recipients of the Order of the Rising Sun, 2nd class
Writers about globalization
American people of Gujarati descent
American academics of Indian descent
Indian political writers
Indian male writers
American political writers
American male writers
20th-century Indian non-fiction writers
20th-century American non-fiction writers
Alumni of Nuffield College, Oxford
Distinguished Fellows of the American Economic Association
21st-century Indian economists
21st-century American economists
Carnegie Council for Ethics in International Affairs
Recipients of Pravasi Bharatiya Samman
Indian American
Indian economists