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The Industrialization Playbook

This week, we talk industrial policy. Economist and author Steve Keen joins me to shine light on the present moment by exploring the historical use of tariffs and industrial policy in the development of industrial powers from Britain to China. In his usual style, Keen aims to dismantle the myths of free-market economics, explaining how virtually every successful industrial nation began with protectionist policies. With the US now engaged in a trade war with Canada and other nations under Trump's renewed tariffs, we examine whether such measures can effectively rebuild American industry without the comprehensive industrial policies that powered China's meteoric rise. Hint: Keen believes this simplistic tariff solutions may create more chaos than revival for America's industrial base. Watch Steve Keen on Youtube: ‪@ProfSteveKeen‬ Listen to Decouple on: • Spotify: https://open.spotify.com/show/6PNr3ml... • Apple Podcasts: https://podcasts.apple.com/us/podcast... • Overcast: https://overcast.fm/itunes1516526694/... • Pocket Casts: https://pca.st/ehbfrn44 • RSS: https://anchor.fm/s/23775178/podcast/rss Website: https://www.decouple.media Chapters: 00:00 Teaser: Impact of Tariffs 00:49 Introduction 05:03 History of Tariffs and Industrial Policy 19:36 China's Industrial Strategy and Global Trade 32:26 The Rise of Japanese Motorbikes and Cars 34:07 China's Industrial Policy vs. Trump's Tariffs 34:59 Globalization and Its Complexities 38:01 Challenges of Reindustrializing America 51:27 Public vs. Private Debt and Economic Predictions