"Industrial Policy" Is the Hottest Idea in Economics. What Could Go Wrong?

"Industrial Policy" Is the Hottest Idea in Economics. What Could Go Wrong?

Under President Biden, the U.S. is pivoting toward what some people call “industrial policy”—that is, using the government to support key industries, like green energy manufacturing and the manufacture of advanced computer chips. There is a strong case against industrial policy in economics: It’s the idea that governments do not know better than markets when it comes to picking winners, and industrial policy just wastes money and distorts the economy. But there’s another view, which is that industrial policy is utterly necessary to help the U.S. build an abundance of computer chips and green energy infrastructure. Greg Ip, the chief economics commentator at the Wall Street Journal, helps us separate fear from fact as we talk about industrial policy. Host: Derek Thompson Guest: Greg Ip Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

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An Astrophysicist Explains the "Strongest Evidence Yet" of Alien Life

An Astrophysicist Explains the "Strongest Evidence Yet" of Alien Life

Last week, a team of astrophysicists from the University of Cambridge announced that they had discovered the “strongest indication” ever of extraterrestrial life. The source did not come from Mars or ...

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A Toy Manufacturer Explains How Trump’s Tariffs Could Crush His Industry

A Toy Manufacturer Explains How Trump’s Tariffs Could Crush His Industry

In the past three weeks, we've spoken to economists about the tariffs. We’ve spoken to a historian about the Smoot-Hawley Tariff Act and the 100-year legacy of American protectionism. We've spoken to ...

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Why America Will Lose Its Trade War With China

Why America Will Lose Its Trade War With China

The U.S. is in the opening innings of a full-blown trade war with China. What does that actually mean? What do we sell to China? What does China sell to us? How is each country dependent on the other ...

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Plain History: The Smoot-Hawley Tariff and the Great Depression

Plain History: The Smoot-Hawley Tariff and the Great Depression

The 1920s and the 2020s share a special kinship. One hundred years ago, the U.S. was grappling with a mix of growth, technological splendor, and generational anxiety—a familiar cocktail (albeit, from ...

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Trump’s Trade War Is Like Nothing America’s Ever Seen

Trump’s Trade War Is Like Nothing America’s Ever Seen

Donald Trump's tariff plan has set global markets on fire. What are they for? What are they trying to accomplish? Fresh off his black-out-rage session on CNBC, Derek talks to Matthew Klein, the autho...

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Trump’s Plan to Smash the Global Economic Order

Trump’s Plan to Smash the Global Economic Order

Donald Trump's second term has been a breakneck whirlwind: tariffs announced, tariffs unannounced, tariffs reannounced, allies threatened, and global coalitions ripped apart. What sort of a world are ...

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Plain History: The Gilded Age

Plain History: The Gilded Age

Corruption. Class wars. Technological splendor. The dawn of a new age of business and government. Rockefeller and Carnegie. The Gilded Age in America—roughly the 1870s through the early 1900s—was one ...

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ABUNDANCE! With Ezra Klein

ABUNDANCE! With Ezra Klein

Donald Trump is serving up a scarcity agenda to America. He and the White House say we don’t have an economy that works, so we might just need to accept a period of economic hardship. They say America...

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