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America’s Next President Needs a New Industrial Policy

America’s Next President Needs a New Industrial Policy
Secretary of Commerce Gina Raimondo listens as national security adviser Jake Sullivan speaks at a virtual meeting with President Joe Biden, CEOs, and labor leaders on the CHIPS for America Act in the Eisenhower Executive Office Building in Washington, on July 25, 2022. Brendan Smialowski/AFP/Getty Images
J.G. Collins
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Commentary

A recent column in the Financial Times, “America (Still) Has No Industrial Policy,” by Rana Foroohar, touched on some issues that have long troubled me about what purports to be U.S. industrial policy—the practice by which governments encourage certain sectors of business and industry to advance national, state, or local economies. The latest examples are, of course, the CHIPS and Science Act of 2022 and countless “Green New Deal” mandates.

J.G. Collins
J.G. Collins
Author
J.G. Collins is managing director of the Stuyvesant Square Consultancy, a strategic advisory, market survey, and consulting firm in New York. His writings on economics, trade, politics, and public policy have appeared in Forbes, the New York Post, Crain’s New York Business, The Hill, The American Conservative, and other publications.