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Management article
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Reference no. 82108
Authors: R Reich
Published by: Harvard Business Publishing
Published in: "Harvard Business Review", 1982

Abstract

There are two general approaches to improving the U.S.''s industrial competitiveness: supply-side economics and industrial policy. Supply-side economics calls for government measures that raise the level of investment, reduce the level of consumption, and thus create new capital. Industrial policy is concerned with developing those industries that promise to be strong internationally and with easing the dislocations of the work force. Developing a coherent U.S. industrial policy is essential but politically difficult because there is no institutional structure through which to achieve the necessary broad consensus.

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Abstract

There are two general approaches to improving the U.S.''s industrial competitiveness: supply-side economics and industrial policy. Supply-side economics calls for government measures that raise the level of investment, reduce the level of consumption, and thus create new capital. Industrial policy is concerned with developing those industries that promise to be strong internationally and with easing the dislocations of the work force. Developing a coherent U.S. industrial policy is essential but politically difficult because there is no institutional structure through which to achieve the necessary broad consensus.

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