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Audio Interview

Government intervention in industrial policy: how businesses should respond

Published on July 4, 2024   31 min

A selection of talks on Management, Leadership & Organisation

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Interviewer: Today, I'm interviewing Professor Willy Shih, Robert and Jane Cizik Baker Foundation Professor of Management Practice at Harvard Business School, on the implications of his article, The New Era of Industrial Policy Is Here, published in the September-October 2023 issue of the Harvard Business Review. The subject of the interview is why governments are intervening in industrial policy more than in recent decades, and how businesses should respond. Listeners are expected to have read the article before listening to this interview. Professor Shih, thank you for taking the time for the interview. The evidence that governments across the world have become more hands-on in industrial policy is irrefutable. Amongst other advice, you advocate a response by commercial companies that may be called, educate the government decision-making machine in depth. In practice, how should this education be done, and by whom? Are verse 3 of Psalm 146, "Put not thy trust in princes," and the observation that market distortion is the mother of corruption cautionary guides when engaging in such education? Professor Shih. Prof. Shih: Thank you for the question, and let me start with the first one. The way I think about it,
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Government intervention in industrial policy: how businesses should respond

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