Dr Jostein Hauge is a political economist and an Assistant Professor in Development Studies at the University of Cambridge, based at the Centre of Development Studies and the Department of Politics and International Studies. He is also the Director of the MPhil in Development Studies and a Fellow of Magdalene College.

His research lies at the intersection of international political economy and development economics.

He is the author of The Future of the Factory: How Megatrends are Changing Industrialization, published by Oxford University Press.

The book investigates how industrialization pathways are shaped by recent technological developments, new forces of globalization, and the threat of ecological collapse. It also charts new pathways for industrial policy and global governance.TIMESTAMPS:

0:00 Introduction and Trailer

01:20 Why Alexander Hamilton Still Matters for Economic Development

03:03 The Return of the State: From Free Markets to Industrial Policy

07:21 Beyond Tariffs: The Full Toolkit of Modern Industrial Policy

10:28 America's Industrial Policy Deficit and the CHIPS Act Gamble

14:02 The Rise of Services and the Manufacturing Illusion

17:35 How America Lost 25% of Global Manufacturing in Three Decades

20:43 The Fatal Mistake: Conflating Low Price with Low Value

23:41 Losing the Industrial Commons: Why Offshoring Costs More Than Jobs

26:04 The East Asian Tiger Playbook: Investment, Patience, and Reciprocal Control

33:32 China's Gladiator Economy: When Copycatting Drives Innovation

37:27 The Patent Paradox: Protecting Profits or Enabling Development?

40:16 Vietnam's Geopolitical Tightrope: Navigating US-China Competition

44:56 Mexico's Cautionary Tale: When Liberalisation Fails

50:31 Financial Repression as Development Strategy: Controlling Capital for Growth

54:31 Why Industrial Policy Requires Embracing Failure

55:35 Who Bears Responsibility for Climate Change?

59:00 China's Green Tech Dominance: Opportunity or Threat for the Global South?

1:02:01 The Overcapacity Debate

1:08:52 AI Anxiety and the Luddite Fallacy: What History Teaches About Automation

1:16:20 Ha-Joon Chang's Impact on Jostein

1:20:42 Advice for Fresh Graduates Entering the Working World

#68- Making Sense of Industrial Policies in the 21st Century

The Front Row Podcast