This conference is the first in a two-part series looking at global competition and new thinking in international trade. Panelists and participants will be asked to focus on the impact of overseas innovation on U.S. comparative advantage and the potential gains from trade. In addition to Paul A. Samuelson's 2004 article in the Journal of Economic Perspectives, this conference will explore the evolution of the thinking of Ralph E. Gomory and William J. Baumol since their 2000 publication of Global Trade and Conflicting National Interests. The panelists will also look closely at the policy implications of the new thinking for trade negotiations with advanced and developing countries.
The opening address was by Senator Paul Sarbanes.
He was followed by a panel discussion on Global Trade, Conflicting National Interests, and Comparative Advantage. The panel consisted of William Baumol (Professor of Economics and Academic Director of the Berkley Center for Entrepreneurial Studies, New York University), Ralph Gomory (President, Alfred P. Sloan Foundation), and Paul Samuelson (Institute Professor Emeritus, Massachusetts Institute of Technology).
Afterward, they were joined for a discussion on the Implications for Economic and Trade Policy by Stephen Roach (Managing Director, Research, Global Economics and Chief Economist, Morgan Stanley).
Finally, there was a panel on the Implications for Economic and Trade Policy which was chaired by Paul Solman (The NewsHour with Jim Lehrer) and consisted of Edward M. Graham (Senior Fellow, Institute for International Economics), Clyde Prestowitz (President, Economic Strategy Institute), Thomas Palley (former Chief Economist U.S.-China Economic and Security Review Commission), and Phillip L. Swagel (Resident Scholar, American Enterprise Institute).
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