IFT hosted

Global Trade Summit

October 16, 2017, 9am-2pm - Mercers’ Hall, London


Global Trade Summit

David Ricardo’s theory of comparative advantage is 200 years old this year. It explains why, against all apparent reason, it makes sense for a country to open its markets to goods and services from the rest of the world, even if other countries can produce those goods and services more efficiently than it can. As Britain leaves the European Union, it forges its own trade policy for the first time in over 40 years; the manner in which it is done will impact the entire global trading system. This makes a re-examination of Ricardo’s theory all the more urgent.

Global Trade Summit


The Mercers’ Company is the Premier Livery Company of the City of London, with a 700-year history.

David Ricardo’s father, a Jewish immigrant from Portugal, was a cloth merchant and stockbroker. Perhaps for this reason, David, also a stockbroker, tended to use the example textiles to illustrate his theories. Mercers’ Hall is therefore the perfect location to celebrate Ricardo’s theory.

Global Trade Summit


Global Trade Summit


Daniel Hannan

IFT President, Member of the European Parliament, UK

Matt Ridley

Author, Times columnist and member of the House of Lords

Deirdre McCloskey

Distinguished Professor of Economics, History, English, and Communication at the University of Illinois at Chicago

Mark J. Perry

AEI scholar and professor of economics and finance at the University of Michigan–Flint

The Rt Hon Michael Gove MP

UK Secretary of State for Environment, Food and Rural Affairs

Jorge Quiroga

President of Bolivia 2001-2002

HE Alexander Downer

Australian High Commissioner to the UK, former Australian Foreign Minister

Daniele Capezzone

Member of Italian Parliament, Director of New Direction Italia

The Rt Hon David Gauke MP

UK Secretary of State for Work and Pensions

Naweed Khan

Executive Director of New Direction

Global Trade Summit


October 16, 2017

Arrivals and refreshments


Welcome - Daniel Hannan


Panel: "The Best Idea in Economics"
Deirdre McCloskey
Mark J. Perry
Chaired by Matt Ridley


Break and refreshments


Panel: "And How Do You Get Re-elected?"
HE Alexander Downer
Jorge Quiroga
Chaired by The Rt Hon Michael Gove MP


BUFFET LUNCH by New Direction - the Foundation for European Reform
Keynote addresses: "A Free Trading Europe"
by Danielle Capezonne MP,
The Rt Hon David Gauke MP
and Naweed Khan