The Phone at the End of the World (Planet Money)

President Trump rode a wave of economic populism and nationalism to his electoral victory, promising to bring manufacturing jobs back to the United States while railing against the forces of globalism. Though many Americans are seriously grappling with issues of trade policy for the first time, countries have been dealing with the challenges of a global economy for quite some time. In fact, in 2010, Argentina's President Cristina Kirchner faced a slate of serious economic problems including high unemployment. In an attempt to create manufacturing jobs in the country, she implemented a rule which declared that if companies wished to sell their products in the country, they had to make those products in the country. Sound a bit familiar?

Following the policy decision, things looked promising enough - as they often do - but quickly took a turn for the worse. The end result is a cautionary tale for those who think that fixing the problems of globalism are simple or straightforward. You can listen to Planet Money's episode on the saga here.