Spot on. More broadly, it’s hard to think of a more disastrous policy in nearly every regard than willful deindustrialization. We decimated entire regions of the country for this? I definitely regret having bought into that logic when I was young.https://foreignpolicy.com/2020/08/12/china-industry-manufacturing-cold-war/ …
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Replying to @DKThomp @benthompson
There's a lot of great work on this by @rodrikdani "Premature deindustrialization has potentially significant economic and political ramifications, including lower economic growth and democratic failure."https://www.nber.org/papers/w20935
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