Essays in International Economic Theory, Volume 1 The Theory of Commercial Policy

These two volumes contain seventy essays chosen largely for theoriginality of their contributions.The first volume contains several classic papers.Among them are the many contributions to the theory of distortions in the 1960swhich laid the foundations of the postwar theory of commercial policy. Also includedare Bhagwati's important papers of the 1970s and 1980s which have shaped a newrevolution in the theory of trade and welfare: the political-economy-theoreticanalysis of DUP (directly-unproductive profit-seeking) activities. Influentialessays on the nonequivalence of tariffs and quotas, immiserizing growth, cost-benefit analysis in open economies, and other major areas of trade theory arecovered.The second volume presents essays that have opened up new areas of analysisin the theory of international trade and in the associated fields of public financeand developmental economics. Bhagwati's seminal work on the novel question of theappropriate income tax jurisdiction in the presence of international factormobility, his well-known analyses of the consequences of skilled migration, theproblem of the optimal choice between international capital and labor mobility, areall included.