Global Trade and Conflicting National Interests

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MIT Press, Jan 16, 2001 - Business & Economics - 215 pages
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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.


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National Welfare and Trade in
Significance of the Multiple Outcomes That Result from
Desirable and Undesirable
Multiple Outcomes That Result from Productivity
Conclusions for Part I
The Economies Model the Equilibria and the Number
The Shape of the Graph
Conflicting National Interests in Linear Trade Models
ThreeCountry Models and Other Complications
The Persistence of Specialization

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About the author (2001)

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

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