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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?
Last month, we observed the third anniversary of the day that awakened America to a new world, when extremists killed thousands of innocent people on American soil. Last week marked the third anniversary of the commencement of Operation Enduring Freedom, the day America resolved to take the battle to the extremists themselves - and we attacked al-Qaeda and the Taliban in Afghanistan.
Three years into the global war on terror, some ask whether America is safer, and if the world is better off. These are fair questions.
But, first, some historical perspective. It has been said that this global war against extremism will be the task of a generation, a war that could go on for years, much like the Cold War, which lasted for decades.
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