W4P3 (tut article): Return to Picking Winners by The Economist Flashcards
1
Q
Which events made people rethink the “less-state-is-better” approach?
A
The 2008 financial crisis, job losses from globalization and automation, and the climate crisis.
2
Q
Which countries are supporting important industries with government help?
A
Japan, the EU, and the United States
3
Q
What technology area is important for national security?
A
The semiconductor industry.
4
Q
What are some risks of industrial policy?
A
disrupted market, inefficiency, government wasting money on unproductive projects
5
Q
How can government investment in technology lead to fewer jobs?
A
Technology leads to automation of jobs where workers are replaced by machines, leading to fewer jobs
