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Larry Summers on China, Russia, and the Global Economy

Foreign Policy Live

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The Industrial Policy Movement and the Automobile Bailout

I have to say I really don't like the attitude that surrounds the industrial policy movement. I wish we had reluctant warriors rather than trigger happy enthusiasts who were running a great deal of the policy. If we had larded it up with worthy political objectives, in all honesty, I don't think the automobile companies would be as healthy today where that program would have been nearly as successful as it was.

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