Longer Reads provide in-depth analysis of the ideas and forces shaping politics, economics, international affairs, and more.

op_tyson1_Doug MillsPoolGetty Images_bidensemiconductorchip Doug Mills/Pool/Getty Images

The New Industrial Policy and Its Critics

 and 

For many years, industrial policy was considered taboo in the United States and many other advanced economies, owing to assumptions that it is inherently protectionist and market-distorting. But context matters, and in today's world, state interventions to address market failures are exactly what is needed.

BERKELEY – Industrial policy has surged to the top of the national agenda in the United States and other advanced industrial economies. This represents a radical departure from recent economic history, and it has revived an older debate in which we both participated more than 30 years ago.

https://prosyn.org/yJAHBbD