23/09/2019 by EconTalk: Russ Roberts
Dani Rodrik of Harvard University talks about neoliberalism with EconTalk host Russ Roberts. Rodrik argues that a dogmatic embrace of markets has increased inequality and limited who benefits from economic growth. He argues for a more interventionist approach to the economy with the goal of better-paying jobs and more widely shared prosperity.
Listen Date: early January 2020
- Ties up with the earlier episode on good jobs but is similarly vague on actual points.
- The interesting idea here was of a small trade distortion being an inoculation against full blown protectionism and populism – for Rodrik, this is the 1980s MFA (an agreement on who would export how many textiles) and also Japanese export restrictions which eventually led to Toyota and others setting up car plants in the southern USA.
- As a corollary to that, I suppose the Detroit Big 3 automakers, initially worried about competition from Japan, eventually had to worry about competition from the South. There’s no winning.