⟳ Репост от alex williams
Bumping this essay to note that the underlying article is now out for submission to journals: papers.ssrn.com/sol3/papers....
Industrial Policy as Competition Policy<p>Throughout U.S. history, and especially in the present era, the government has shaped markets by giving advantages to some firms over others<span>—a versionpapers.ssrn.comJeff GordonIndustrial policy is often in tension with competition - a problem I call "the dilemma of picking winners." In this essay and the associated working paper, I propose a framework for doing industrial policy without entrenching the winners. lpeproject.org/blog/the-dil...