Summer School 5: The many ways governments influence industry

This episode of Planet Money Summer School, titled "Industrial Policy," explores the role of government intervention in shaping economies. The hosts, along with Professor Joan Ricard-Huguette, discuss the concept of industrial policy, contrasting a cautionary tale from Argentina's attempt to manufacture BlackBerry phones in Tierra del Fuego with China's successful development of its solar panel industry. The discussion covers import substitution, export-led growth, comparative advantage, and the concept of "embedded autonomy," highlighting the importance of strategic government support, competition, and collaboration with businesses to foster successful and globally competitive industries. The episode analyzes the successes and failures of governmental economic policies, providing insights into how countries can develop specific industries and compete in the global market.