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A controversial idea at the heart of Bidenomics

Planet Money

CHAPTER

Navigating Industrial Policy and Market Failures

This chapter explores the concept of industrial policy as a government tool to reshape economic structures for long-term goals. It discusses the historical and modern examples of government interventions, particularly the move from fossil fuels to renewable energy, while examining market failures that necessitate such policies. The chapter presents contrasting viewpoints on the effectiveness of industrial policy, highlighting case studies from East Asia and the implications of historical events like the Napoleonic Wars.

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