Jagdish Bhagwati.pdf

The_Economist_com_Debate_Manufacturing.pdf
Preview of Jagdish Bhagwati
🔗 Source: columbia.edu
📊 Size: 114 KB
👤 Author: May Yang
⬇️ Downloads: 263

Summary

The Economist's online debate discusses the importance of manufacturing in an economy, with Ha-Joon Chang proposing that a strong manufacturing base is crucial for prosperity, while Jagdish Bhagwati opposes this motion, arguing that manufacturing has been overemphasized and that technical progress is not limited to this sector. Chang cites examples of countries like Switzerland and Singapore, which have strong manufacturing bases despite being known for their service-based economies, and argues that deindustrialization can lead to balance-of-payments difficulties. Bhagwati counters that progress in services does not depend on manufacturing and that some financial innovations have been beneficial. The debate raises questions about the definition of manufacturing, the role of supply chains, and the relationship between manufacturing and services.

Description

The Economist's online debate discusses the importance of manufacturing in an economy, with Ha-Joon Chang proposing that a strong manufacturing base is crucial...

Technical Information

  • File Format: PDF
  • File Size: 114 KB
  • Pages: 19
  • Language: EN
  • Author: May Yang
  • Total Downloads: 263
  • Last Updated: 2 months ago

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