Miguel Afonso Caetano"The measures Trump has enacted will not create the strong, well-resourced public systems required to drive innovation that produces broad prosperity. Industrial policy instruments can be powerful, but only when they are embedded in capable institutions and used to solve problems rather than merely reward those with privileged access.
If industrial policy is to deliver for the American people, the Trump administration must demand discipline from CHIPS Act recipients. If the president aims to secure a good deal for taxpayers, then the current approach—in which the state is taking passive equity stakes with no voting rights, no conditions, and no reinvestment requirements—will not suffice.
Trump speaks to the grievances of the working class. Industrial policy can deliver for those voters, but only if contracts require that public investment translates into better wages and more affordable essentials, not just higher stock prices. Placing conditions on government support is not adding bureaucratic red tape. It is the mechanism by which public value is created.
An effective industrial strategy must create wealth through public investment guided by modern-day moonshots, missions that set clear public goals defined by the problem to be solved and the outcomes to be delivered."
https://www.foreignaffairs.com/united-states/making-industrial-strategy-great-again#
#PublicInvestment #IndustrialPolicy #IndustrialStrategy #USA
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