Does America need an industrial policy — or a productivity policy?

Words matter, and the Financial Times is right to take issue with the UK government’s new “industrial strategy” paper.  For one thing, the phrase “industrial strategy” reminds me of “industrial policy” where government picks winners and losers, and props up zombie companies. Subsidies and bailouts.

But even the word “industrial” is problematic. The word “implicitly gives primacy to manufacture and export — a mercantilist attitude from an economic world that is long gone.”

 
Περισσότερα εδώ:

Does America need an industrial policy — or a productivity policy?

 
Πηγή: American Enterprise Institute