Industrial Policy 2025: Bringing the State Back In (Again)

New first-of-its-kind essay collection answers the question: What institutions and strategies are missing from US industrial policy for a greener 2024 and beyond?

February 12, 2024
Ariela Weinberger
(212) 444-9130
media@rooseveltinstitute.org

New York, NY — In recent years, the US government has used emergency powers from the era of Franklin D. Roosevelt to tackle everything from manufacturing vaccines to addressing the baby formula shortage. The United States has also deployed tax credits, loans, and grants on a scale not seen in generations. After decades of policymakers attempting to minimize the actual or perceived role of the state in the economy, the state’s capacity is again at the center of the current US policy agenda. 

 

Industrial Policy 2025: Bringing the State Back In (Again), a series of six essays released today from the Roosevelt Institute, explores the potential tools of state economic capacity that could complement the tax credits and grants that have formed the core of the Biden administration’s first-term industrial agenda. The ideas in this collection have two things in common. First, the cases described in each essay involve a more active role for the state in the economy than neoliberal scholars or policymakers in the US have embraced in recent decades. Second, these tools have been successfully employed in world economies. 

 

Unified by a foreword from Todd N. Tucker, director of the Roosevelt Institute’s Industrial Policy and Trade program, the essay collection includes a diverse group of scholars from around the world who aim to answer the question: What institutions and strategies are missing from US industrial policy that could increase its success?

 

“There is a critical window in 2024 to make the case for a more robust industrial policy toolkit in the next Congress and administration,” said Tucker. “Now is the time for experts like these to inform the public debate by sharing what their fields already know (but busy policymakers might not) about the opportunities of a more diversified industrial policy toolkit.”