Jagdish Bhagwati recently offered a harsh rebuke (.doc) to those worried about economic losses from globalization, going so far as to say that “the quality of [Krugman’s] work on this subject [trade and inequality] hardly deserves any attention” and “Stiglitz perpetrates other fallacies such as that unemployment means you cannot have gains from trade — that issue was examined by trade theorists in the 1950s and even a Nobel Prize cannot shield you from ignorance and folly.”