The US can win good jobs and high-value industries with industrial policies that its competitors use now and America used in the past. America should combine tariffs, a competitive dollar, and support for innovation with a new emphasis on manufacturing. This book presents an alternative economics that supports this view.
Orthodox economics notwithstanding, free trade is bad for America, some industries are better than others and government plays an indispensable role in commercializing and developing new technologies. Most successful foreign countries understand this; industrial policy can help keep the best jobs and industries at home while enriching millions of lives. The most recent US administrations have been moving in the right direction but, the authors argue in this comprehensive and far-reaching study, their measures haven't been nearly enough. It's time for a coherent, comprehensive, fully thought-out analysis of the concept of industrial policy and how it should be used. Industrial Policy for the United States presents a timely new economic theory of industrial policy. It supports the theory with an analysis of industrial policy successes and failures in the US and foreign countries, case studies of key American industries and policy recommendations.
