Ricardo Hausmann
speaker
306 appearances
1 recordings
1 series
first heard Jun 2025
last heard Jun 2025
Ricardo Hausmann’s voice in public audio — every appearance, attributed to the second.
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Appearances
And then the second question is would trade, would tariffs be your instrument?
Okay.
So I would say that economic theory gives you at least three good reasons to intervene in a market that might justify something you might want to call industrial policy.
And then the question is uh is tariffs the right industrial policy?
Because now they're putting tariffs on steel and aluminum.
They want more steel and aluminum being made in the US.
If you wanted more steel and aluminum made in the US, uh what
instruments could you have used and is tariff the right one?
Okay.
So uh first um there is um the argument that um
In order to make something, you have to know how to make it.
You know, it's hard to make things you don't know how to make.
And typically when you start something, you don't, you're not particularly good at it, but maybe over time you become better at it.
There are some learning curves.
And you want to get into those learning curves.
And that's uh a compelling reason maybe to to intervene in a relatively new industry where you know you haven't yet to figure things out, say maybe like solar panels or or batteries or you know something that's relatively new that you still have yet to figure out.
You wouldn't do it for a mature industry, like say, like electric.
uh gas turbines because you know they've optimized that to death and and you know there's there's no significant breakthroughs for for decades now.
So steel would not be the obvious thing that would come to mind, right?
It's uh it's a nineteenth century technology, it's an industry that has that's quite mature, etc.
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