As far back as Adam Smith, economists have focused on global trade's potential to deliver peace and prosperity. But with globalization comes new challenges for leaders - thorny ethical dilemmas with roots in the interactions between markets and cultures. Dr. Moises Naim was invited to speak at the annual KPMG Peat Marwick/Stanley R. Klion Forum organized by the Sanford C. Bernstein & Co. Center for Leadership and Ethics at Columbia Business School; his talk was entitled "Ethics at the Frontier of Globalization: A Conversation with Moises Naim." Dr. Naim, until recently the editor of Foreign Policy magazine, spoke to students and guests about the unintended consequences of global trade - namely, the pervasive rise of illicit networks.

Dr. Naim, who holds a PhD from MIT, has variously been a business school professor, Venezuela's minister of trade, and executive director at the World Bank. His most recent focus has been the underbelly of global trade. In a provocative talk, Dr. Naim outlined his thesis: Illicit networks - which trade everything from drugs to weapons to people - define the frontiers of globalization. As world markets grow ever intertwined, criminals have exploited the rapid changes in economics, technology and geopolitics to deal in illegal goods.