Wednesday, May 20, 2009

Industrial Policy

Dean Baker:

In short, industrial policy would not be new to the U.S. economy, even if an explicit discussion of it might be.


Discussions of "industrial policy" and the implicit assumption that the US doesn't have one have driven me mad for years. Of course we do but, as Dean says, we just pretend we don't so that we don't talk about it. The fact that we don't talk about it makes it less explicit, and sectors and companies which benefit from it do so with much less transparency.