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A controversial idea at the heart of Bidenomics
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Konten disediakan oleh NPR. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh NPR atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
Réka Juhász is a professor of economics at the University of British Columbia, and she studies what's known as industrial policy.
That's the general term for whenever the government tries to promote specific sectors of the economy. The idea is that they might be able to supercharge growth by giving money to certain kinds of businesses, or by putting up trade barriers to protect certain industries. Economists have long been against it. Industrial policy has been called a "taboo" subject, and "one of the most toxic phrases" in economics. The mainstream view has been that industrial policy is inefficient, even harmful.
For a long time, politicians largely accepted that view. But in the past several years, countries have started to embrace industrial policy—most notably in the United States. Under President Biden, the U.S. is set to spend hundreds of billions of dollars on industrial policy, to fund things like microchip manufacturing and clean energy projects. It's one of the most ambitious tests of industrial policy in U.S. history. And the billion dollar question is ... will it work?
On today's show, Réka takes us on a fun, nerdy journey to explain the theory behind industrial policy, why it's so controversial, and where President Biden's big experiment might be headed.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
…
continue reading
That's the general term for whenever the government tries to promote specific sectors of the economy. The idea is that they might be able to supercharge growth by giving money to certain kinds of businesses, or by putting up trade barriers to protect certain industries. Economists have long been against it. Industrial policy has been called a "taboo" subject, and "one of the most toxic phrases" in economics. The mainstream view has been that industrial policy is inefficient, even harmful.
For a long time, politicians largely accepted that view. But in the past several years, countries have started to embrace industrial policy—most notably in the United States. Under President Biden, the U.S. is set to spend hundreds of billions of dollars on industrial policy, to fund things like microchip manufacturing and clean energy projects. It's one of the most ambitious tests of industrial policy in U.S. history. And the billion dollar question is ... will it work?
On today's show, Réka takes us on a fun, nerdy journey to explain the theory behind industrial policy, why it's so controversial, and where President Biden's big experiment might be headed.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
1181 episode
MP3•Beranda episode
Manage episode 402625453 series 1324387
Konten disediakan oleh NPR. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh NPR atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
Réka Juhász is a professor of economics at the University of British Columbia, and she studies what's known as industrial policy.
That's the general term for whenever the government tries to promote specific sectors of the economy. The idea is that they might be able to supercharge growth by giving money to certain kinds of businesses, or by putting up trade barriers to protect certain industries. Economists have long been against it. Industrial policy has been called a "taboo" subject, and "one of the most toxic phrases" in economics. The mainstream view has been that industrial policy is inefficient, even harmful.
For a long time, politicians largely accepted that view. But in the past several years, countries have started to embrace industrial policy—most notably in the United States. Under President Biden, the U.S. is set to spend hundreds of billions of dollars on industrial policy, to fund things like microchip manufacturing and clean energy projects. It's one of the most ambitious tests of industrial policy in U.S. history. And the billion dollar question is ... will it work?
On today's show, Réka takes us on a fun, nerdy journey to explain the theory behind industrial policy, why it's so controversial, and where President Biden's big experiment might be headed.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
…
continue reading
That's the general term for whenever the government tries to promote specific sectors of the economy. The idea is that they might be able to supercharge growth by giving money to certain kinds of businesses, or by putting up trade barriers to protect certain industries. Economists have long been against it. Industrial policy has been called a "taboo" subject, and "one of the most toxic phrases" in economics. The mainstream view has been that industrial policy is inefficient, even harmful.
For a long time, politicians largely accepted that view. But in the past several years, countries have started to embrace industrial policy—most notably in the United States. Under President Biden, the U.S. is set to spend hundreds of billions of dollars on industrial policy, to fund things like microchip manufacturing and clean energy projects. It's one of the most ambitious tests of industrial policy in U.S. history. And the billion dollar question is ... will it work?
On today's show, Réka takes us on a fun, nerdy journey to explain the theory behind industrial policy, why it's so controversial, and where President Biden's big experiment might be headed.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
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