Global Trade and Conflicting National Interests

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Ralph E. Gomory William J. Baumol (Academic Director, Berkley Center for Entrepreneurial Studies)

Global Trade and Conflicting National Interests

Ralph E. Gomory, William J. Baumol (Academic Director, Berkley Center for Entrepreneurial Studies)

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English

MIT Press
07 June 2022

Economic theory & philosophy; International trade; Economic systems & structures

Series: Lionel Robbins Lectures

Ralph Gomory and William Baumol adapt classical trade models to the modern world economy.

Ralph Gomory and William Baumol adapt classical trade models to the modern world economy.

In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the classical theories originated. Gomory and Baumol show that the new and significant conflicts resulting from international trade are inherent in modern economies.

Today improvement in one country's productive capabilities is often attainable only at the expense of another country's general welfare. The authors describe why and when this is so and why, in a modern free-trade environment, a country might have a vital stake in the competitive strength of its industries.

By: Ralph E. Gomory, William J. Baumol (Academic Director, Berkley Center for Entrepreneurial Studies)
Imprint: MIT Press
Country of Publication: United States
Dimensions: Height: 231mm, Width: 155mm,
Weight: 369g
ISBN: 9780262545808
ISBN 10: 0262545802
Series: Lionel Robbins Lectures
Pages: 215
Publication Date: 07 June 2022
Recommended Age: From 18 years
Audience: College/higher education , A / AS level , Further / Higher Education
Format: Paperback
Publisher's Status: Active

William J. Baumol is Professor of Economics at New York University and Director of the university's C. V. Starr Center for Applied Economics.

Reviews for Global Trade and Conflicting National Interests

The church of global free trade, which rules American politics with infallible pretensions, may have finally met its Martin Luther. An unlikely dissenter has come forward with a revised understanding of globalization that argues for thorough reformation. This man knows the global trading system from the inside because he is a respected veteran of multinational business. His ideas contain an explosive message: that what established authorities teach Americans about global trade is simply wrong disastrously wrong for the United States.-- William Greider, The Nation--