The second volume notes that several countries are, in fact, working to change their comparative advantage by making investments in education, research and development, and infrastructure. They are also adopting policies that create an environment that encourages private sector investment and risk taking. In discussing how the United States should respond to the shifting comparative advantage of our trading partners, Senators Lamar Alexander and Jeff Bingaman stress the importance of increased investments in the physical sciences and the need to improve mathematics and science education. Other conference participants focus on policies in key regions of the world and still others urge attention to the U.S. current account and fiscal deficits. The conference on new thinking in international trade was made possible through a generous grant of the Alfred P. Sloan Foundation.

The Jumpstart our Business Startups, or JOBS Act, is a win for entrepreneurship as well as bipartisan politics, and given economic hardship, unemployment and political bickering, it's time for a win, writes Public Policy Scholar Amy Wilkinson.

Today’s report on the U.S. trade performance for May 2012 shows that the Obama Administration is roughly on track to achieve the President’s lofty goal of doubling U.S. exports over the five year period ending in 2014.