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An Examination of Proposals for a U.S. Industrial Policy
Author(s) -
Genovese Frank C.
Publication year - 1988
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1988.tb02068.x
Subject(s) - government (linguistics) , function (biology) , sort , private sector , public policy , economics , business , public economics , set (abstract data type) , law and economics , economic policy , economic growth , philosophy , linguistics , information retrieval , evolutionary biology , programming language , computer science , biology
A bstract . An “ industrial policy ” for the U.S. appears from the writings and statements of its advocates to involve modification of federal tax laws and expenditures to allow a largely unchanged set of business institutions to better serve the public interest. It employs planning but it is planning of the sort the U.S. has always had. Those who oppose all government activity in the private sector oppose it, not realizing that the anti‐trust laws , for example, do not interfere with the economy's operation but aid it to function beneficently. It is those whose activities are anti social who are loudest in their demands for business “freedom.” Does the U.S. need a more efficient economic system? Intercountry comparisons show that in many areas it lags. To achieve stability of income and employment as well as productive efficiency , the U.S. has many policy options it can consider—and it must.