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From semiconductors to electric vehicles, governments are identifying the strategic industries of the future and intervening to support them – abandoning decades of neoliberal orthodoxy in the process. Are industrial policies the key to tackling twenty-first-century economic challenges or a recipe for market distortions and lower efficiency?
普林斯顿——面临主权债务违约的欧洲南部边缘国家可以在历史上找到前车之鉴，但乍一看都让人皱眉头。处理棘手的问题通常需要时间，而耐心往往是稀缺品——尤其在民主国家。
欧洲目前的苦恼，最显眼的先例是20世纪80年代的拉美债务危机。1982年8月，墨西哥扬言要违约，很快就有其他债务国跟风，特别是阿根廷和巴西。一旦爆发违约风潮，各大工业化国家的银行体系就会被拖垮，从而引发类似大萧条的金融危机。
接下来是拖时间，一拖七年。最初的对策是在各债务国改进政策的条件下，由国际机构提供帮助，并由有关银行追加贷款——看起来违背了银行理性行为的基本信条。
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