Who Is Industrial Policy Really For? (with Isabel Estevez)
Summary
Nick Hanauer and Isabel Estevez discuss the resurgence of industrial policy in the U.S., analyzing the CHIPS Act and Inflation Reduction Act as a departure from neoliberalism. They argue that current strategies focus too narrowly on "widget maximization" rather than broader human flourishing, advocating for comprehensive goals that include labor standards, community benefits, and sustainable production. The conversation also highlights the necessity of proactive state intervention to address climate change and compete with China’s state-directed economy.
Topics discussed
Introduction and episode context
Nick Hanauer introduces the resurgence of industrial policy
Isabel Estevez defines industrial policy and its tools
Historical context: Why industrial policy fell out of favor
The failures of neoliberal orthodoxy and market myths
Moving from widget maximization to human flourishing
Redefining 'industrial' to include care and agriculture
Labor standards, childcare, and resistance from industry
Future needs: Administrative capacity and breaking neoliberal mindsets
Trade policy and the competitive threat from China
Government procurement as a tool for sustainable agriculture
Lessons from economic transformation: The need for broad coalitions
Isabel Estevez's personal journey into development economics
Hosts discuss the narrative shift and broadening the definition
Historical US industrial policy and the reality of trade partners
Climate crisis and the necessity of proactive state action
Outro and show resources
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