ADThat has caused parts of the U.S. manufacturing base to shrink, a predicament that worries proponents of industrial policy for several reasons. ADBut for the most part, he said, “these views and sentiments have not really translated into an industrial policy that is supported by any real spending." Cass and other conservatives say there is strong precedent for industrial policy in the United States. Even during the Reagan era, Congress appropriated hundreds of millions of dollars to a government-industry consortium called Sematech that was founded to help U.S. semiconductor companies catch up to Japanese rivals. “Republicans want to talk about national security and China and maybe your left-wing people want to talk about inequality.

Source: Washington Post August 26, 2020 10:52 UTC