There are few things a government can do to harm society more than Industrial policy. It sounds well-intentioned, but is born out of hubris and results in disaster.

Welcome to Episode 89 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In this episode, Ajay breaks down the thinking behind industrial policy, the practice of it, and why it is always bad for the people.

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The 500 Dollar Bill08:01 Chapter 1: What is Industrial Policy?15:39 Chapter 2: How Industrial Policy Works26:50 Chapter 3: Subsidies42:54 Chapter 4: The Folly of PLI52:56 Chapter 5: Coercive Power57:36 Chapter 6: Ethno-Nationalism1:05:42 Chapter 7: Government Monopolies 1:11:54 Chapter 8: The China Question1:14:55 Chapter 9: What Should the State Do?

For magnificent, detailed, juicy show notes, click here.