World Trade Organization

The World Trade Organization (WTO) began in 1995, but even in the first 10 years of its existence it generated debate, controversy, and even outrage. Rulings on beef hormones and tuna-dolphin cases provide graphic examples of how the organization regulates and intrudes into areas of individual consumer choice, ethical preferences, and cultural habits. This deep and far-ranging impact of the WTO on peoples' everyday lives means that it is not just an institution of interest to economists, but to everyone.

The name "World Trade Center", when spoken by an American, tends to conjure up the best and worst about the nation. The idea for such a financial center was conceived of in the heady days of post-World War II prosperity, when the nation's financial prospects had never looked better and Americans were trading all over the world with both former allies and enemies.