Week 4: 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.

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2
Q

Which countries are supporting important industries with government help?

A

Japan, the EU, and the United States

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3
Q

What technology area is important for national security?

A

The semiconductor industry.

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4
Q

What are some risks of industrial policy?

A

disrupted market, inefficiency, government wasting money on unproductive projects

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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

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