The world economy has seen a paradigm shift like no other. For decades, developing countries rallied against free trade in an attempt to protect local industries, while developed economies sounded its virtues. Now developed economies are seeing another shift towards enhanced service, tech industry jobs and gig economies, while manufacturing industries are losing ground to automation and labor markets abroad. As specializations shift, developed nations find themselves enacting the very same protectionist policies they argued against for decades in order to secure jobs and protect their local industry. In this session, Paul Krugman, one of the most vocal proponents of free trade expounds its virtues and the benefits the world will see, even as developed economies work through the growing pains of an economic transition.