Pascal Lamy Talk

Pascal Lamy, WTO Director General, visited the Business school before speaking on the Eurozone crisis. Here are some topics from his talks:

• Ricardian Principle (Competitive Advantage)
• Schumpeterian Principle (Creative Destruction)
• Economic liberalization requires the reallocation of productive factors which is invariably "painful" -- but no pain, no gain
• Value Added Concept: Importing is good if it leads to higher value exporting
• 2012 World Trade Report being published in July
• Article 20 allows wide degree of latitude for factors such as national security (implications for technology export restrictions)