This first chapter of the book focuses on the foundational notions of international economic governance. Namely, the investigation of the World Trade Organization and how it is often successfully, and other times not so successfully, able to further the goals of improving the lives of citizens of its Members. The author points out how the WTO is a liberalizing force if it adheres to the scope of improving the lives through regulation and rulemaking. What is wrapped up in the discussion about the efficacy of the WTO is the interaction between it, and other international organizations like the International Monetary Fund and the World Financial Authority, which are focused specifically on the stabilization of the world financial markets. This link between the WTO and the international-market-stabilizers gives a greater perspective on how it is that these organizations are able to wield such a great power in their goals to become a better and more influential force for liberalizing goods in the global community. In a modern time, they are placed under a greater level of scrutiny because they were unable to prevent the global financial crises.