EPISODE · Dec 26, 2025 · 1H 22M
#68- Making Sense of Industrial Policies in the 21st Century
from The Front Row Podcast · host Keith Yap
Dr Jostein Hauge is a political economist and an Assistant Professor in Development Studies at the University of Cambridge, based at the Centre of Development Studies and the Department of Politics and International Studies. He is also the Director of the MPhil in Development Studies and a Fellow of Magdalene College. His research lies at the intersection of international political economy and development economics. He is the author of The Future of the Factory: How Megatrends are Changing Industrialization, published by Oxford University Press. The book investigates how industrialization pathways are shaped by recent technological developments, new forces of globalization, and the threat of ecological collapse. It also charts new pathways for industrial policy and global governance.TIMESTAMPS:0:00 Introduction and Trailer01:20 Why Alexander Hamilton Still Matters for Economic Development03:03 The Return of the State: From Free Markets to Industrial Policy07:21 Beyond Tariffs: The Full Toolkit of Modern Industrial Policy10:28 America's Industrial Policy Deficit and the CHIPS Act Gamble14:02 The Rise of Services and the Manufacturing Illusion17:35 How America Lost 25% of Global Manufacturing in Three Decades20:43 The Fatal Mistake: Conflating Low Price with Low Value23:41 Losing the Industrial Commons: Why Offshoring Costs More Than Jobs26:04 The East Asian Tiger Playbook: Investment, Patience, and Reciprocal Control33:32 China's Gladiator Economy: When Copycatting Drives Innovation37:27 The Patent Paradox: Protecting Profits or Enabling Development?40:16 Vietnam's Geopolitical Tightrope: Navigating US-China Competition44:56 Mexico's Cautionary Tale: When Liberalisation Fails50:31 Financial Repression as Development Strategy: Controlling Capital for Growth54:31 Why Industrial Policy Requires Embracing Failure55:35 Who Bears Responsibility for Climate Change?59:00 China's Green Tech Dominance: Opportunity or Threat for the Global South?1:02:01 The Overcapacity Debate1:08:52 AI Anxiety and the Luddite Fallacy: What History Teaches About Automation1:16:20 Ha-Joon Chang's Impact on Jostein 1:20:42 Advice for Fresh Graduates Entering the Working World
What this episode covers
Dr Jostein Hauge is a political economist and an Assistant Professor in Development Studies at the University of Cambridge, based at the Centre of Development Studies and the Department of Politics and International Studies. He is also the Director of the MPhil in Development Studies and a Fellow of Magdalene College. His research lies at the intersection of international political economy and development economics. He is the author of The Future of the Factory: How Megatrends are Changing Industrialization, published by Oxford University Press. The book investigates how industrialization pathways are shaped by recent technological developments, new forces of globalization, and the threat of ecological collapse. It also charts new pathways for industrial policy and global governance.TIMESTAMPS:0:00 Introduction and Trailer01:20 Why Alexander Hamilton Still Matters for Economic Development03:03 The Return of the State: From Free Markets to Industrial Policy07:21 Beyond Tariffs: The Full Toolkit of Modern Industrial Policy10:28 America's Industrial Policy Deficit and the CHIPS Act Gamble14:02 The Rise of Services and the Manufacturing Illusion17:35 How America Lost 25% of Global Manufacturing in Three Decades20:43 The Fatal Mistake: Conflating Low Price with Low Value23:41 Losing the Industrial Commons: Why Offshoring Costs More Than Jobs26:04 The East Asian Tiger Playbook: Investment, Patience, and Reciprocal Control33:32 China's Gladiator Economy: When Copycatting Drives Innovation37:27 The Patent Paradox: Protecting Profits or Enabling Development?40:16 Vietnam's Geopolitical Tightrope: Navigating US-China Competition44:56 Mexico's Cautionary Tale: When Liberalisation Fails50:31 Financial Repression as Development Strategy: Controlling Capital for Growth54:31 Why Industrial Policy Requires Embracing Failure55:35 Who Bears Responsibility for Climate Change?59:00 China's Green Tech Dominance: Opportunity or Threat for the Global South?1:02:01 The Overcapacity Debate1:08:52 AI Anxiety and the Luddite Fallacy: What History Teaches About Automation1:16:20 Ha-Joon Chang's Impact on Jostein 1:20:42 Advice for Fresh Graduates Entering the Working World
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#68- Making Sense of Industrial Policies in the 21st Century
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