In recent years, some on the right have argued that the national interest requires policymakers to coordinate key sectors of the economy, and that this would mark a return to a proud American tradition. But the history of American economic policy provides as much a warning as a guide for these would-be planners, and should leave them wary of attempts to direct the economy from the top down. Guest Mike Watson joins us to discuss this history and its lessons for today’s political leaders.  

Mike Watson is the associate director of the Hudson Institute’s Center for the Future of Liberal Society.

This podcast discusses themes from Mike’s essay in the Summer 2021 issue of National Affairs, “Industrial Policy in the Real World.”