The Global Economy Area at CESifo aims to break new ground in working on contemporary problems facing the global economy rather than using a sterile, abstract, overly theoretical approach focused largely on geographical trade in goods. How and why globalization speeds up technical change, does or does not generate inequality and marginalization, facilitates increased speed of transactions, and needs global institutions way beyond the current World Bank, IMF, WTO structure will be stressed. Major barriers to flows of goods and factors such as standards, rules of origin, immigration restrictions and others, on which there is limited literature, will be explored. The challenge is a 21st century response to 21st century problems. Assistant to this area is Sebastian Benz.