Hi, I'm Erica Maris, founder of Ily and host of What About Your Friends.

A brand new show on the Ringer podcast network dedicated to the many lives of friendship

and how it's portrayed in pop culture.

Every Wednesday on the Ringer dish feed, I'll be talking with my best friends, Steven Othello,

and your favorites from within the Ringer and beyond about friendships on TV, and movies,

pop culture, and our real lives.

So join me every Wednesday on the Ringer dish feed where we try to answer the question TLC

asked back in the day.

What about your friends?

Today's episode is about a bold new experiment by the Biden administration to remake the

U.S. economy and the world.

Under President Biden, the U.S. is pivoting toward what some people call industrial policy,

that is using the government to support key industries like green energy manufacturing

or advanced computer chips.

Now, there is a very strong case against industrial policy in economics.

It's the idea that governments are stupid.

Governments do not know what markets to pick.

They don't know what companies to pick.

They're terrible at distinguishing winners from losers, and when they try to pick winners,

they end up just wasting money and distorting the economy.

But there is another view, which is that industrial policy is actually the oldest idea

in American economics.

...