Industrialisation is still vital to economic development but some countries are struggling to reap its benefits

By Jostein Hauge, Assistant Professor in Development Studies, University of Cambridge

Alexander Hamilton, one of the founding fathers of the US, wrote a wealth of reports that served as building blocks for the country’s economic system. In 1791, during his time as secretary of the Treasury, Hamilton published one of his most important: the Report on the Subject of Manufactures.

It argued that the US needed to develop its manufacturing sector through the use of industrial and trade policy to grow its economy, bolster its military, increase its productivity, and catch up…

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