Industrial Policy—a.k.a. Central Planning—Won’t Make America Great
Across the political aisle pundits are suggesting industrial policy as a tool to contain the ascent of China. Commentators worry that failure to do so might result in China eclipsing America as the world’s economic superpower. Without doubt, the tantalizing arguments abetting industrial policy are gaining traction because defenders of markets have failed to make their case in a way the public can understand.