The University of Virginia’s Miller Center in Washington, D.C. hosts the 2011 Mortimer Caplin Conference on the World Economy today on Tax Reform, Deficit Control and Global Competiveness at the National Press Club:

If asked to describe the predominant feature of the international economy over the last two decades in a single word one might easily respond “globalization.” Globalization—the growing interdependence of countries resulting from increased integration of trade, capital, information and people flows—has brought with it profound changes in standards of living across the world. If, however, the same person was asked to use a single word to describe their view of the next two decades the response may well be “debt.”

It is difficult to disagree with the assessment that debt is both a national and global problem. Governments throughout the world have relied on supranational institutions to bail them out while others continue to stare down the fiscal time-bomb. The Euro-zone, in particular, remains mired in a debt crisis, with potentially grave consequences threatening global markets. Everyone—politicians, corporate principals, private actors—agrees that the debt is a problem. Yet deep disagreements exist about ways to solve it. Arguments about tax theory, tax fairness, and entitlement programs run squarely into concerns about the role, reach and cost of the federal government. And policymakers remain unable to reconcile wants and needs on a national scale.

How does globalization intersect with America’s ability to manage its fiscal future? Do concerns over global competitiveness hurt or hinder efforts directed towards tax reform? The Fourth Annual Mortimer Caplin Conference on the World Economy, sponsored by the Miller Center, is devoted to an informed and intelligent discussion of these questions. Keeping with our tradition, this conference will bring together senior government officials along with the best thinkers from the academy and the private sector to discuss, deliberate and debate a number of questions related to the tax reform, deficit control and economic competitiveness in the international economy.

For a list of the speakers and their topics, see here.