Industrial policy will not generate the scale of permanent employment that the Biden administration hopes for, will not generate genuinely globally competitive industries without indefinite subsidies, and the amount of resources devoted to it is not large enough to fundamentally reshape the economy where it might have impact on national security.
forecastpending
Speaker
Martin WolfEvidence Quote
“I think they won't end up by generating anything like the scale of permanent employment they hope for they will not I think generate genuinely globally competitive Industries to the extent that they want... and most importantly the amount of resources money that is going into this is just not big enough fundamentally to reshape the economy [50:44]”
Created: 8/12/2026, 6:24:34 PM
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