1. Contrast the State-Centered approach to the Society-Centered approach. What are the 2 central assumptions of the State Centered approach that contrast sharply with the Society Centered approach?
2. Define industrial policy. What is meant by a “strong state?” Is a strong or weak state more likely to implement industrial policy? Why?
3. Explain the Infant Industry justification for the industrial policy of raising tariffs to protect a new industry.
4. How does Strategic Trade Theory differ from the Infant Industry theory? Explain the impact of subsidies using the example detailed in Figure 5.1 pages 100-103.
5. Why is industrial policy used most in the high-tech industry? Previously, we had said comparative advantage determines what country should produce a good. What does Strategic Trade theory suggest?
6. What part/statement/example/concept/story in the chapter did you like the most? Why?
7. What question do you think needs to be asked about this chapter that has not been?
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