A Glimpse of Stiglitz from Manchester

Having had a lecture from a nobel laurette such as Joseph Stiglitz captured as a momentous moment for me. As a student who is eagered to meeting face-to-face with the 'free trade for all' initiator, I am rushed to Manchester just to see the lecture. I got left by the free-of-charge bus, so I had to take out my 18 quids just to purchase the return ticket to Manchester.

However, I managed to be there on time and fortunately I got the front sit. I am so fortunate because I can see Profesor Stiglitz from about 3 metres ahead. Sympathetic with his grey beard and friendly smile, the crowd applaused at his entrance to podium. I am amazed with his charisma, I don't know why.

The lecture he gave to us mostly based on the 'Free Trade for all' book that he proposed. He mentioned about the failure of WTO aggreements which caused problems for developing countries. Uruguay round, Cancun, Washington consensus, Doha round .. all ends with some extent of failures. Based on his research, at about 70% developed countries benefit from the free trade but 30% less developed countries suffered more than before. This has created 'unity' between less developed countries to puzzle the jargon 'trade liberalisation' and 'globalisation' might be effective to foster them into developed country. Having considered that, free trade for all should be seen as the development round that is affected on all, not partially.

Well, I haven't finished reading his book, though.. Therefore I can't make proper comment on that. To some extent I agree with him that not every western-idealism might be effective to encounter the problems which underpin less developed countries. Hence, the 'clinical economic' proposed by Jeffrey Sachs could be employed to overcome the problem.

A glimpse of Stiglitz has opened my eyes open to brainstorm the ideal way of facing the less developed countries problems. Would free trade be better off for Indonesia or even worse off? Would Porter' s diamond for national competitive advantage can be combined with Stiglitz free trade for all proposal?

I don't know..
Another world is still possible...