Arnold Kling writes, “After reading his book One Economics, Many Recipes, I keep imagining myself debating Dani Rodrik…and losing.”
Among other things, Kling suggests Rodrik offers “industrial policy with an Austrian slant” — he quotes Rodrik’s book as saying “the right way of thinking of industrial policy is as a discovery process–one where firms and the government learn about underlying costs and opportunities and engage in strategic coordination.” Hah! “Industrial policy as a discovery process.” Take that, Hayekians!
Kling observes, “We free-market types tend to complain that anti-market types take capitalist prosperity for granted and harp on its failures. Rodrik probably would say that we in turn take good government for granted and harp on its failures.”
There is much more in the post. Thoughtful. Recommended.