Productivity and Trade
Scott discusses how job losses in industries like coal and auto manufacturing are primarily driven by rapid productivity improvements and shifts in production locations, rather than international trade. He emphasizes that the perception of trade as the main culprit is often a result of lazy thinking, as automation plays a significant role in job displacement. The conversation highlights the need to understand the broader economic dynamics at play, where innovation and productivity are key to wealth creation.In this clip
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EconTalk
Why Industrial Policy Is (Almost) Always a Bad Idea (with Scott Sumner)
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