Ha-Joon Chang: The Market or the State? (4/6)

The video discusses the relationship between education and productivity, highlighting the Swiss paradox. It explores industrial policy, emphasizing the importance of targeting and questioning the notion that governments cannot pick winners. The role of entrepreneurship in innovation is examined, along with the concept of waste in economic theories. The session concludes with a historical perspective on the US as a developmental state, referencing Alexander Hamilton's contributions.

What are the challenges faced by the miracle economies of East Asia according to the speaker?

Discuss the implications of waste in the entrepreneurial process as mentioned in the text.

What insights does the speaker provide regarding the organization of the corporate sector?

What is the significance of the infant industry argument in the context of the US development state?