3min chapter

Plain English with Derek Thompson cover image

"Industrial Policy" Is the Hottest Idea in Economics. What Could Go Wrong?

Plain English with Derek Thompson

CHAPTER

The Risk to Industrial Policy Failure

If the policy fails, it might poison the well of industrial policy and domestic semiconductor manufacturing for many years or decades. I worry about people who do industrial policy just because they love doing industrial policy. The Jones Act was passed in 1921 with the theory that we needed at the best shipbuilding industry so that our Navy would always be ready to build ships. And here we are 100 years later.

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