2 ms·

Well yes, but sometimes this approach gets you things like Airbus.

• barry-cotter 6y ago
  No, this approach doesn’t. Complex working systems are built on a core of simpler working systems. Picking winners works incredibly rarely. Industrial policy and the infant industry argument barely ever works. You’re far more likely to get the Argentine or Indian car industry[1] or the Irish steel industry than the Korean ship building industry. Airbus did not arise from the government putting out a tender for an airline company to be delivered in working order. There were many smaller, working, profitable aviation companies first. [1] They all disappeared absent subsidies/tariffs.