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National Industrial Policy in America - Research Paper Example
Author : crystal00
Pages 4 (1004 words)
National Industrial policy in America Full Name Name of Instructor National Industrial policy in America “National industrial policy is a government-sponsored economic program in which the public and private sectors coordinate their efforts to develop new technologies and industries…
In the 1980s and 90s, industrial policies enjoyed some success in Germany and Japan. In the United States, such direct government involvement in business planning has traditionally been viewed with suspicion. However, the Advanced Technology Program, begun in 1990, has been instrumental in the research and development of promising, high-risk technologies. U.S. government subsidies can also be found in such areas as defense, energy, transportation, and home construction.” (Reich, 1991). The National Industrial Policy in US have been one of the hot and happening topics in the recent time and is subjected to mixed reactions from different corner. This paper will discuss about the cons of the Industrial policies in America and is set to provide sources supporting it. Let us take the instance of Soviet Union. Industrial policies have been used elsewhere in the world and have proved unsuccessful. The fall of the former Soviet Republic stands proof to this. An industry definitely require motivation to build up which can be achieved only when there is a competition. Also, a competitive market can be measured well unlike other market. According to (Grahame 1989), “The competitiveness of an economy can be a rather elusive concept since there are a number of ways in which it can be defined and measured”. ...