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The fact that the dumbest president in American history is bad at industrial policy does not mean that industrial policy cannot or should not be done.
by smallmancontrov 2mo ago
The fact that the dumbest president in American history is bad at industrial policy does not mean that industrial policy cannot or should not be done.
- toomuchtodo 2mo agoThe fact that he has two and a half years left in office, along with Congress not willing to do anything, means industrial policy cannot be done. We can certainly try again when something changes, whether that’s the required turnover in Congressional representation (maybe midterms, maybe two more years from now) or federal administration regime change (January 2029). “We are at an impasse.” Until then, the country keeps burning down, as voted for by the electorate. I do not see another path, but perhaps I am mistaken. I am always open to being corrected when wrong.
- tancop 1mo agoGood industrial policy is made from positive economic actions. State investment, interest free loans for factory expansion, strong antitrust law, subsidies and tax reforms that promote industry growth instead of shielding it from competition. Tariffs can be a good way to pay for this but they are always negative for consumers, and most of the time also net negative for domestic industry. Hard quotas and trade bans put up a wall that completely removes buyer choice and turns everything into a corrupt seller's market. The American tradition is using negative tools because of their anti competitive effects. Car makers really don't want people buying cheaper cars from overseas so they lobbied for the chicken tax. In a country where funding from corporate super PACs is the most reliable way to win elections no president will change policy if it means losing a big sponsor.