Description: Industrial Policy for the United States: new book says end free trade, develop high technology, make the dollar competitive, create manufacturing jobs, protect national security. New economic thinking and radical, common-sense solutions. Endorsed by leading Democrats and Republicans.
Industrial policy means viewing the economy not as one single thing, which is usual way to view it when people talk about inflation being X% or economic growth being Y%, but as an intricate network of specific industries .
Key insight #1: Some industries are more valuable than others. They make the highest profits, pay the best wages, and drive the whole economy forward
The key is that nations are locked in a ruthless rivalry to possess the most valuable industries. These are not only those important for national security, like aircraft building, but those that generate the highest profits and the largest quantity of good jobs .