Ricardo Hausmann on the rise of industrial policy, green growth, and Trump’s tariffs

For market purists, any mention of the term industrial policy used to evoke visions of heavy-handed Soviet-style central planning, or the stifling state-centric protectionism employed by Latin American countries in the late 20th century. But that conversation turned dramatically over the last several years, as President Joe Biden’s signature legislative achievements like the CHIPS and Science Act and the Inflation Reduction Act showcased policies designed to influence and shape industries ranging from tech to pharma to green energy.

In a wide-ranging conversation, host Ralph Ranalli and Prof. Ricardo Hausmann discuss why industrial policy is making a comeback, tools that the Growth Lab has developed to help poorer countries and regions develop and prosper, and the uncertainty being caused by President Trump’s pledge to raise tariffs and protectionist barriers.