A “True” Industrial Policy for All
Whether one looks to the United States or the "miracle" economies of China and East Asia, state-led industrial strategies have played a key role in economic growth and development. And after decades of industrial policy being consigned to the fringes of economic-policy debate, it is now back on the agenda – as well it should be.
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WASHINGTON, DC – In the January 1954 issue of The Atlantic, John F. Kennedy, then the junior US senator from Massachusetts, argued that the ongoing migration of industries from New England to the American South should not be hindered. He called on the government instead to provide loans and other forms of support to assist New England-based businesses, retrain industrial workers, and fund local industrial development agencies.