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Jared Bernstein on the Next Stage of Bidenomics
Odd Lots
The Importance of Industrial Strategy
I think that you cannot find a time in our economic history when there wasn't an industrial policy of some sort or another. What I'm talking about is an industrial policy that is a function of who has the best connected lobbyists to get the tax code that they want. The idea of the government sort of getting in there and saying, don't use this widget, use that widget, sounds kind of unappealing to me. There are deep market failures where private investors will under invest in critical sectors such as climate,. Such as batteries, such as more resilient supply chains here. And so our financing structures have to tweak those risk rewards so that we can get the investment we need.
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