Those wacky neoliberals

Johan “In defense of Global Capitalism” Norberg really doesn’t like Joseph Stiglitz, but he really, really likes Jagdish Bhagwati. I found that interesting because my impression – based on reading op-eds and reviews of their respective globo books – was that while Stiglitz has adopted the posture of a critic of “globalization” and Bhagwati the one of a defender, they don’t actually disagree much on any substansive issues. But maybe I’m wrong?

I also note with interest that he’s a fan of The Fountainhead and Atlas Shrugged.

8 thoughts on “Those wacky neoliberals

  1. while Stiglitz has adopted the posture of a critic of ?globalization? and Bhagwati one of a critic

    I think the evil gremlins of typo may have been at work here…

  2. “But maybe I?m wrong?”

    Er, sort of. It’s a matter of emphasis, really. Stiglitz sees the benefits of globalization as being very narrowly focussed on elites and lopsided in favor of the ‘developed’. Bhagwati sees general benefits for all but thinks that lopsided-ness and externalized costs crop up and need to be fixed.

    As a Westerner living in a developed nation, I say Stiglitz can go take a flying leap. My daughters don’t need the “opportunity” to work in a factory.

    “What is a weed? A plant whose virtues have not been discovered.” – Ralph Waldo Emerson

  3. From a December 2002 WSJ front-page article, available here :

    Messrs. Stiglitz and Bhagwati say they remain friendly, and Mr. Stiglitz notes that there are also important areas where the two agree. For instance, both have been outspoken advocates of capital controls that would restrict the waves of short-term investment and lending that brought turbulence to developing markets in the 1990s.

    Yet in private, the two intellectuals are as blunt as ever. “We thought we had finally won these battles against this fear of integration. He is going around gumming up the works,” Mr. Bhagwati says. Mr. Stiglitz fires back: “That is part of Bhagwati’s charm, that he’s such a curmudgeon.”

  4. “As a Westerner living in a developed nation, I say Stiglitz can go take a flying leap. My daughters don’t need the “opportunity” to work in a factory.”

    Posted by Bernard Guerrero at June 7, 2004 05:55 PM

    A slight error in your post, Bernard. It should read, ‘as an above-the-median SES household in a developed nation….’.

    Because there’s a lot of US workers who’d love to get into most US factories. They’d get higher wages.

    Barry

  5. The Fountainhead and Atlas Shrugged are two books that are as dangerous,in their own way, as anything Karl Marx ever wrote.

  6. My copy of _The German Ideology_ is very dangerous. I cut my finger reading an exposition of historical materialism.

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