The Zero Hour with RJ Eskow Industrial Policy, Explained (w/ Ian Fletcher)
May 3, 2025
Ian Fletcher, an economist and co-author of 'Industrial Policy for the United States,' discusses the urgent need for tailored industrial policies to create high-value jobs. He critiques current government actions and explores the mismanagement issues faced by corporations like Boeing and Intel, warning against prioritizing short-term profits. Fletcher emphasizes the significance of resilient supply chains, especially post-COVID, and advocates for rethinking corporate governance and the complexities of industrial policy for a stable economic future.
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Industrial Policy Defined
- Industrial policy targets individual industries, understanding their unique challenges and opportunities.
- It supports industries like automotive tech shifts and counters global competition to preserve jobs and economies.
Patchy Industrial Policy Risks Failure
- The U.S. applies industrial policy patchily and ideologically avoids full engagement.
- Comprehensive tools and coordination are crucial for industrial policy success, beyond isolated measures like tariffs.
Boeing and Intel Corporate Failures
- Boeing's mismanagement prioritized short-term profits over engineering excellence, risking national security.
- Similar issues at Intel show finance dominance can erode critical industrial capabilities.
