Industrial Policy Insights
Vivek discusses the strategic use of tariffs to protect domestic manufacturing and foster high-end production in East Asian countries. This approach, known as import substitution, allows nations to transition from low-value goods to more profitable, competitive industries. Tracy raises concerns about the sustainability of such policies, questioning how to maintain discipline while promoting successful industrial growth.In this clip
From this podcast
Odd Lots
This Is How Industrial Policy Can Go Bad
Related Questions
How do we fix the imbalance of Western companies outsourcing to Eastern Europe and paying a fraction of what they pay at home, despite rising costs of living? Should we build our own brands, push for EU-level labor reform, or accept that capital will always flow to where labor is cheapest?
Are tariffs good for the economy?
How does international trade benefit countries?