Economist Adam Posen Explains Why He Thinks U.S. Industrial Policy Will Backfire
Over the last few years, Washington has prioritized relocating manufacturing production back to the United States. Critics abroad argue that America’s new industrial policy is protectionis...Show moret and fosters unfair competition. Economist Adam Posen goes a step further. He says the problem with U.S. policy isn’t just that it channels zero-sum thinking but that it is destined to backfire on a number of its goals, from job creation to innovation and decarbonization. Posen argues that for U.S. industrial policy to be successful and resilient, it needs to be barrier free. How and why? Subscribers are encouraged to send in their questions. Posen will discuss his FP cover essay in a conversation with FP’s editor in chief, Ravi Agrawal.