Premature deindustrialization and the future of Africa

The guest, Danny Rodrick, discusses the notion of premature deindustrialization, which suggests that poorer nations today may not be able to follow the path of industrialization taken by countries like South Korea or Taiwan. Rodrick explains that rapid industrialization has been a key factor in the rapid growth and development of countries like South Korea, and without the possibilities of rapid industrialization, countries may experience slower growth based on the accumulation of basic capabilities, human capital, and institutional improvement. He also highlights the importance of a steady and hard-working approach to growth, rather than relying on the rapid growth rates seen in industrialized countries.