Industrial Policy (U.S.)

industrial policy

industrial policy, government-sponsored economic program in which the public and private sectors coordinate their efforts to develop new technologies and industries. Government provides the financial support and capital to the private sector by direct subsidies, tax credits, or government-run developmental banks. Industrial policy emphasizes cooperation between government, banks, private enterprise, and employees to strengthen the national economy. In the 1980s and 90s, industrial policies enjoyed some success in Germany and Japan. In the United States, such direct government involvement in business planning has traditionally been viewed with suspicion. However, the Advanced Technology Program, begun in 1990, has been instrumental in the research and development of promising, high-risk technologies. U.S. government subsidies can also be found in such areas as defense, energy, transportation, and home construction.

See R. Reich, The Work of Nations (1991).

The Columbia Encyclopedia, 6th ed. Copyright© 2018, The Columbia University Press.

Industrial Policy (U.S.): Selected full-text books and articles

Incentives and Political Economy By Jean-Jacques Laffont Oxford University Press, 2001
Librarian's tip: Chap. 5 "Political Economy and Industrial Policy"
Revitalizing Antitrust in Its Second Century: Essays on Legal, Economic, and Political Policy By Harry First; Eleanor M. Fox; Robert Pitofsky Quorum Books, 1991
Librarian's tip: Part V "Tempering Antitrust with Industrial Policy?"
Can America Compete? By Robert Z. Lawrence Brookings Institution, 1984
Librarian's tip: Chap. Five "The Questionable Case for Selective Industrial Policies"
To Market, to Market, with What? Some Observations on Labor Market Rationales for Industrial Policy By Thomas, Celia; Friberg, Emil Journal of Economic Issues, Vol. 28, No. 2, June 1994
Handbook of Global Economic Policy By Stuart S. Nagel Marcel Dekker, 2000
Librarian's tip: Chap. 26 "U. S. Public Policy toward a Dynamic Increasing-Returns Industry"
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