The information economy creates both opportunities and challenges for global trade. The United States must lead its trading partners and multilateral organizations to extend the free-trade, open-market principles that govern physical goods to cover the intangible products now zipping through wire and air. Trade policy can lay the path for future growth in the new economy-or block it

Jagdish Bhagwati's The Wind of the Hundred Days makes for an enlightening sermon on the virtues of free trade. But as a critique of the Clinton administration, it is way off the mark