Global Trade and Conflicting National Interests

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.

Author: Ralph E. Gomory, William J. Baumol
Publisher: MIT Press
Published: 06/07/2022
Pages: 215
Binding Type: Paperback
Weight: 0.67lbs
Size: 9.10h x 6.10w x 0.46d
ISBN13: 9780262545808
ISBN10: 0262545802
BISAC Categories:
- Political Science | International Relations | General
- Business & Economics | Exports & Imports
- Business & Economics | International | Economics & Trade

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