The Sound of Economics cover image

Read with Bruegel: The Crisis of Democratic Capitalism

The Sound of Economics

CHAPTER

The Importance of Industrial Policy

Martin Wolf: The problem in advanced countries like the US relates to the loss of industrial jobs. Is it not reasonable to conclude that protecting these jobs through tariffs and domestic content requirements is actually part of the solution? He says one mind says, this is an overwhelming political challenge. But if first best policy is not available, which would be a combination of temporary transfers and successful pro-developing policies, he argues, "this is a rational second best"

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.
App store bannerPlay store banner