Industrial Policy in America: Breaking the Taboo

TitleIndustrial Policy in America: Breaking the Taboo
Publication TypeBook
Year of Publication2013
AuthorsDiTommaso, Marco R., and Schweitzer, Stuart O.
PublisherEdward Elgar Publishing
CityNorthampton, MA
Keywordsgovernment intervention, government policy, industrial policy, international economics, political economy
Abstract

In contrast to what observers have frequently argued, this timely and thought provoking book suggests that the concept of industrial policy is not alien to the American past and present. The debate on this topic in the US has always been full of contradictory rhetoric and policy practices, and the expert authors therefore acknowledge a need to rethink the traditional antagonist positions. They illustrate that contemporary markets continue to demand to be fixed by government policies, and governments continue to show how fixing-the-market policies might fail. The conclusion is that the future of industrial policy is about how to make both markets and governments better in their functioning, but that the real goal for industrial policy is to make better-market and better-government policies consistent with the goal of building a better society.