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Advanced capitalist countries have recently rediscovered the role of industrial policy to build out key economic sectors like semiconductors and AI. But what happens if business is the one calling all the shots?
On this latest episode of Confronting Capitalism, we’re sharing Vivek Chibber’s keynote address from the 2026 IFAR Consortium Conference, hosted by the Indonesian International Islamic University. He discusses how developing countries used industrial policy in the past, why the US and Europe are now turning to greater state intervention, and how one could build a new social-democratic alliance between the state and labor.
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