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The current industrial policy discourse is so strange. Most people who argue for it today, do it on the grounds of strategic & geopolitical necessity, so welfare effects are irrelevant. But other people who support it keep debating the welfare effects!
15.7. klo 08.04
It's not a complete account but this paper (forthcoming in the Journal of Economic Perspectives) shows that the evidence on the success of industrial policy is quite mixed.
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