Is There a Better Idea to Retrench?

The US did basically adopt industrial policy in the 80s. It sort of worked and at least kept the industry alive long enough to pivot away from fully commoditized memory and into software based on surprising power. On the other hand, the US does have a ton of management talent. A lot of those people are not working for the government. They're working in private equity, but they're doing the same kind of thing that you want your industrial planners to do where is it actually a better idea to retrench?