Deborah Swenson: Helble provocatively argues that future study of international trade needs to develop new approaches that recognize the features of a “consumer-centered” economy. He grounds his argument on two claims: (1) a charge that consumer heterogeneity has been omitted from previous work, which has instead focused on the supply side; and (2) the argument that the involvement of consumers in the provision of information, in the creation of value, and in production will lead to a reconfiguration of the economic environment. Looking ahead, Helble predicts that a third unbundling in international organization will proceed, supplanting the first and second unbundlings originally identified by Baldwin.
In contrast with Helble's assessment that new products available to consumers through individual customization, or digital products that link the consumer and producer through flows of data, will lead to a “consumer-centered” economy, I question whether the economy has truly shifted to a new regime....