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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Odd Lots · Ricardo Hausmann on What it Takes to Win a Trade War · 12 Jun 2025 podcast

But uh you might have uh, I don't know, national security reasons to protect it or something, but definitely not learning curves.

By the way, those learning curves, if they are like inside the company.

If it's something that the company is learning and the company owns, markets have been super happy to fund that.

I mean, markets have funded Amazon for s decades while the company was losing money.

Because they're saying, no, no, the company's figuring out how to sell stuff on the internet.

Eventually, when they do figure it out, they will have access to a humongous market.

And and that's going to be super valuable.

So market supported

you know, negative cash flows in in Amazon for a very long time.

So you have to argue that these learning curves somehow spill over into the value chain, spill over into more uh complicated things to coordinate, and that's why you need some some kind of action.

Sometimes the reason why industries get into trouble is that you have chicken and egg problems, that you know, the supplier is not there because you are not there and you're not there because the supplier is not there.

So there's a good equilibrium in which both you and your suppliers are there.

And there's a bad equilibrium in which neither of you is there.

So how do you go from the bad equilibrium where none is there to the good equilibrium where both are there?

And that's a problem that we we know how to how to solve.

In each one of these cases, tariffs may not be the right instrument.

So for example, you know, if you wanted the supplier and you to be there, well, maybe the government comes and says, you know, I'm going to give a supplier the guarantee that you're going to buy from them.

And I'm going to give you a guarantee that the supplier is going to be there to sell you.

So you install your plant, he installs his plant, and the guarantee expires worthless.

So the government can coordinate on the good equilibrium, essentially spending no money and taxing nobody.

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