After a few decades’ absence, industrial policy is back in the national conversation, with support from leading academics, grassroots movements, and politicians ranging from Sen. Elizabeth Warren to Sen. Marco Rubio. Despite its dormancy in the public debate, industrial policy and planning lie at the heart of many capitalist economies—and both should anchor the future of an inclusive American economy.
In Industrial Policy and Planning: What It Is and How to Do It Better, Roosevelt Fellow Todd Tucker defines industrial policy and planning and explores its success around the world. Dismantling the myth that the US has no industrial policy, Tucker delineates the ad hoc measures that have advantaged the privileged few across industries and examines how racism, legalism, and neoliberalism have hindered the development of comprehensive industrial planning.
To compete with the rest of the world, our government must think bigger than tariffs and implement comprehensive, democratic industrial policy and planning. By rewriting the rules, we can create a more effective and sustainable economy—for all.