Fair Trade and Harmonization: Volume 1

"The subject of these volumes is of enormous importance to the world economy, and perhaps even more broadly than that. Harmonization has crept up on the academic community as an applied area of great appeal and policy significance. These volumes will help to educate the policy and research communities to both our collective intellectual progress on these highly important issues, and our need for more research on the shoulders of the work collected here." --Robert Willig, Professor of Economics and Public Affairs, Woodrow Wilson School of Public and International Affiars, Princeton University "These two volumes, edited by Jagdish Bhagwati and Robert Hudec, are extremely well-written. They provide valuable insights into the 'trade and' agenda, whether the environment, labor, or competition policy. Everyone interested in trade will benefit from the comprehensive treatment presented here." --Carla A. Hills, Chairman & CEO, Hills & Company, International Consultants; former U.S. Trade Representative, 1989-1993

Jagdish N. Bhagwati is University Professor of Economics, Law, and International Relations at Columbia University and former Adviser to the Director General of GATT, Arthur Dunkel. He is the author (with Arvind Panagariya) of Why Growth Matters: How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries.

Introduction, Jagdish Bhagwati. Part 1 Harmonization - General analytical issues: the demands to reduce domestic diversity among trading nations, Jagdish Bhagwati; lying down with procrustes - an analysis of harmonization claims, David W. Leebron; free trade and evolving standards, Alessandra Casella. Part 2 Environmental standards: trade and the environment - does environmental diversity detract from the case for free trade?, Jagdish Bhagwati and T.N. Srinivasan. Part 3 Labour standards: international labour standards and trade - a theoretical analysis, Drusilla K. Brown, Alan V. Deardorff, and Robert M. Stern. Part 4 Tax policy: tax cacophony and the benefits of free trade, Joel Slemrod. Part 5 Competition policy: trade and competition control, Christopher Bliss; competition policy and international trade, James Levinsohn; dumping - in theory, in policy, and in practice, Richard H. Clarida. Part 6 Race to the bottom: capital mobility and environmental standards - is there a theoretical basis for a race to the bottom?, John Douglas Wilson; environmental regulations and industry location - international and domestic evidence, Arik Levinson; reflections on the race to the bottom, Alvin K. Klevorick. Part 7 Japan and Europe - fair trade and harmonization: a short summary of the long history of unfair trade allegations against Japan, Gary R. Saxonhouse; why does Japan resist foreign market-opening pressure?, John McMillan; trade liberalization and the harmonization of social policies - lessons from European integration, Andre Sapir.