A fascinating discussion with Ian Fletcher, co-author of the comprehensive new book Industrial Policy for the United States (Cambridge University Press). In this episode, Ian unpacks the critical role of industrial policy in shaping America’s economic future, challenging the myths of free trade, and exploring how the U.S. can protect and grow its advantageous industries. From historical successes like the Morrill Act to modern challenges like China’s rise and the overvalued dollar, this conversation covers the past, present, and future of U.S. industrial strategy. 

Chapters:

(00:00 Introduction)
(01:17 Regarding Free Trade)
(02:43 What is Industrial Policy?)
(04:07 National Security and Deindustrialization Risks)
(07:49 The Role of Government in Innovation)
(09:37 Defining Advantageous Industries)
(12:29 Tariffs and Strategic Industries)
(13:55 U.S. Industrial Policy Through History)
(18:26 Government’s Role in Aviation and Tech)
(23:31 Industrial Policy Failures: Synthetic Fuels & Solyndra)
(29:48 Case Study: China’s Industrial Policy Success)
(38:21 Case Study: The UK’s Industrial Policy Failure)
(43:13 What Should the U.S. Do Today?)
(49:27 Evaluating Trump’s Tariff Policies)
(53:36 Key Takeaways from the Book)
(54:28 Ian’s Advice: Trust Economic History, Not Theory)

Buy Industrial Policy for the United States: https://www.amazon.com/Industrial-Policy-United-States-Competition/dp/1009243071/?&_encoding=UTF8&tag=theurban-20

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