Markets Are Powerful When They Work Well, Right?

Economy is incredibly complex. You need a lot of knowledge about it to be able to manage it intelligently. The problem with markets that we have seen created over the last 30 odd years is that, number one, that information is highly perfect. And so markets become very disfunctional and very sclerotic. At any given moment to some degree s a collective action problem. But i think it's important to point out that the version of industrial policy that we're talking about now, that most western nations are talking about  is primarily about trying to sed or start new economic directions in particular sectors. That approach actually has set of critiques from the left, but i'm here to say