1981 - The Hon. George P. Shultz - Risk, Uncertainty and Foreign Economic Policy

In this lecture the Honourable Georgy P. Shultz spoke to how risk and uncertainty dominate international affairs. He argued that this was especially the case in the economic sphere, potentially leading to a loss in investment and decreased trade. It is necessary to take these uncertainties, identify then and convert them into manageable risk. He stressed the need for trading rules and institutions, suggesting a Bretton Woods II focusing on trade, investment, development and national economic policy. He concluded by giving many suggestions in each of these areas.