Industrial Policy Returns, Prior Pratfalls Notwithstanding

Source: American Institute for Economic Research
by James Bovard

“Jubilation erupted in Washington this summer as industrial policy came back into fashion. Congress passed Biden-backed legislation known as the CHIPS Act to spend $52 billion subsidizing semiconductor production. But the new law is a reminder that politicians prosper in Washington by ‘learning nothing and forgetting nothing,’ especially not forgetting how to buy votes and snare campaign contributions.” (11/22/22)