"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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Why Is It So Hard to Predict the Next Great Quarterback?

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This week we have the NFL draft, which is an annual exercise in failure. Every year, some NFL team makes a disastrous quarterback decision but also overlooks a potential star. Why is it so damn hard t...

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The End of the Golden Age of Streaming

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Why Are American Teenagers So Sad and Anxious?

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