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.

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