Summers opened by pointing out the benefits provided by economic development and questioned the notion that globalization is to blame for world poverty.

“More people in the world are poor because of the lack of globalization than because of it,” Summers said. “A more open, market-centered economy in terms of the distribution of goods and services is important.”

He and Sen, who was Harvard’s Lamont University professor before leaving for England, agreed that open markets were not the entire solution. Improved literacy and health are central to providing the poor with opportunities to participate in these markets, both said.

Summers however stressed that anti-entrepenurial and protectionist policies were also barriers to relieving world poverty.

Summers took the opportunity to criticize the Bush administration’s trade policy, calling increased tariffs on steel and textiles harmful to both America and the developing world’s interests.

Summers and Sen also weighed in on the question of debt relief.

Summers questioned the wisdom of wiping out the foreign debt of developing nations—an approach advocated earlier in the day by Stone Professor of International Trade Jeffrey D. Sachs ’76—saying that it offers the greatest reward to countries that have been most irresponsible.

He also joked that he held his opinion despite the fact that he had met U2 lead singer and debt relief advocate Bono before Sachs did.

—Staff writer David H. Gellis can be reached at gellis@fas.harvard.edu.