One of the more powerful wake-up calls from policymakers for economists recently is this: "Advocating industrial policy was once considered embarrassing---now it should be considered something close to obvious."
Would you say the “financial deregulation” and privatisation policies of the 1980s is really industrial policy in disguised which ended up concentrating wealth in a corrupt elite of politicians and bankers? Just asking.
Interesting example. Such policies resulted in a twist of the landscape of economic activity, advantaging parts and disadvantaging others, and so in the current understanding of industrial policy, yes, those are indeed instances of industrial policy.
Would you say the “financial deregulation” and privatisation policies of the 1980s is really industrial policy in disguised which ended up concentrating wealth in a corrupt elite of politicians and bankers? Just asking.
Interesting example. Such policies resulted in a twist of the landscape of economic activity, advantaging parts and disadvantaging others, and so in the current understanding of industrial policy, yes, those are indeed instances of industrial policy.