
Why Industrial Policy Is (Almost) Always a Bad Idea (with Scott Sumner)
EconTalk
Reassessing Economic Shifts and National Security
This chapter challenges the belief that transitioning from a manufacturing to a service economy signifies a decline in wealth creation, positing that economic growth can occur through innovation. It discusses the implications of manufacturing loss on national security, while emphasizing the importance of a highly educated workforce and technological advancements. The conversation critiques exaggerated geopolitical fears, particularly regarding China, advocating for a balanced approach to security and economic policy that promotes deregulation over industrial protectionism.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.