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.

Global Trade and Conflicting National Interests (Lionel Robbins Lectures) PDF

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