New Games, New Rules, New Strategies

New Games, New Rules, New Strategies

- Speaker: Lester Thurow, Professor, Massachusetts Institute of Technology

- Date : April 11, 1995.

"If you look at the GATT-Bretton Woods system, let me argue that it is dead... in the sense that there is no dominant economic power or combination of powers capable or willing to design a new world economy that has to be built. In the Uruguay Round, we established this new regime called the WTO which is supposed to design the new rules. If there ever was an organization designed not to work, it is the WTO. If I gave you a pass for building an international organization that would not work, you could not have done better. The WTO has one vote one country, meaning that Jamaica has as much influence as the US, which is absurd. One hundred and thirty countries, with one vote per country, is not going to write the rules to play ping pong, much less write the rules for the world economy...”