Changing attitudes on industrial policy

What are the pros and cons of industrial policies in tackling market failures and other challenges? Economist Michael Spence writes in defense of industrial policy in Project Syndicate and Douglas Irwin considers the return of industrial policy for the IMF. Vox interviews Kimberly Clausing about the dark nationalism of Biden’s climate policies. The Wall Street Journal looks at Bidenomics and its contradictions, while Chip Capitols dives into the industrial policies that fostered Taiwan’s semiconductor juggernaut.

Mentioned publications

In Defense of Industrial Policy – Michael Spence, Project Syndicate, May 5, 2023
In times of crisis, the question is not whether to adopt industrial policy but how to do it well.
The Return of Industrial Policy - Douglas Irwin, International Monetary Fund, June 2023
Should developing economies follow the US and China’s lead in adopting industrial policies?
The nationalist dark side of Joe Biden’s climate policies – Dylan Matthews, Vox, May 9, 2023
An interview with former Biden official Kimberly Clausing on the administration’s inward turn.
Bidenomics and Its Contradictions – Greg Ip, The Wall Street Journal, June 8, 2023
An examination of President Biden’s international economic policy and its downsides.
Taiwan vs US Chip Subsidies – Bolstering the Sacred Mountain - Arrian Ebrahimi and Yipei Lu, Chip Capitols, May 23, 2023
What policies did Taiwan adopt to build its world-leading semiconductor industry?