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June 08, 2007


Daniel from Bolivia

It seems that you are talking about developed countries.
In the case of Bolivia, or a developing country in general, it seems that evidence support the fact that industrial policy or microecnomics public policies are needed to improve a poor industry basis, where agriculture is the main "cluster".


Thanks for the follow-up! I wish I had you as my economics professor...


Ii'm taken
by your ending squib:

"By the way, this is a nice illustration of how neoclassical reasoning (maximization, equilibrium, comparative statics) is often the best antidote to silly orthodox thinking"
recall your ice clear rendition of the trade gain postulates

why not try giving
the ortho paradigm
a similar whurl
i noticed in all the talk
no attempt to define

Michael Sullivan

This is a great observation.

It does cause me to eagerly consider a follow-up question: What kind empirical evidence would you accept that industrial policy does not work either in general, or in some specific industry?

And of course, the inverse question should be asked of those who take the opposite side of the argument: What evidence would they accept that industrial policy *does* work, either in general, or in a particular industry.

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