Rethinking Industrial Policy
The discussion challenges the notion that profit and loss are adequate signals for business viability, suggesting that government intervention may be necessary to address market failures. Emphasizing the need for strategic investment, it highlights the importance of aligning actual market behavior with socially optimal outcomes, particularly in sectors like renewable energy. The conversation also touches on the implications for employment stability and environmental concerns.In this clip
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EconTalk
Michael Munger on Industrial Policy
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