Making It, Issue 3: The Policy Choice. July 2010
The theme of this – the third – issue of Making It: Industry for Development is industrial policy.
In response to the global economic crisis, governments around the world are desperate to jump-start economic growth. Following the bailouts of the banks and car makers, more recently most of the world’s biggest economies have been directing public money into attempts to boost manufacturing.
The era of the Washington Consensus is over. Even if – as many of our contributors note – industrial policy never really went away, it is definitely now fully back on the agenda. In the words of our keynote article author, Ha-Joon Chang, “Industrial policy is not a taboo any more”.
The whole world must find the policies to meet the challenge of climate change. Developing countries must try to meet the expectations of their growing populations by building up their economies on the basis of green growth and clean energy. As one of our contributors argues, industrial policy has a key role to play in the world’s transition to a resource-efficient, low-carbon growth trajectory.
In entitling this issue, “The policy choice”, Making It aims to highlight the notion that the real question about industrial policy is not whether it should be practiced, but how.
Our website provides an interactive platform for exchange of views and ideas, and we invite you – our readers – to join in this debate. We want to know how you see this topic, and what industrial policy can do for your country, your community, or your business.