Rethinking Industrial Policy

The video discusses the role of industrial policy in the US, examining historical examples and current initiatives like the CHIPS Act. It highlights the importance of focusing on R&D and education to prepare for the digital age. The discussion also covers climate change policies and the need for strategic implementation of industrial policy, suggesting collaboration between government and business leaders.

What is a key challenge mentioned in the development of domestic capabilities for high-end chip production?

• Lack of raw materials

• Insufficient R&D spending

• Political interference

• High labor costs

According to the discussion, what should be the focus of industrial policy in the digital age?

• Increasing manufacturing jobs

• Enhancing agricultural productivity

• Expanding the service sector

• Improving digital literacy and education

Why is government involvement crucial in basic research, as per the discussion?

• It is less risky and more profitable

• Private sector lacks interest

• Research is too uncertain and costly

• It ensures faster product development

What is the speaker's view on the current efforts to combat climate change?

• They are primarily driven by the private sector

• They are unlikely to solve climate change completely

• They are sufficient to stop global warming

• They focus too much on international cooperation

What historical example is used to suggest a method for administering industrial policy?

• The Industrial Revolution

• The Space Race

• The New Deal

• World War II