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American Industrial Policy: Free or Managed Markets?
     

American Industrial Policy: Free or Managed Markets?

by William R. Nester
 
What is the government's proper role in the economy? Do free or managed markets best promote economic development? Who can best pick industrial winners and losers, the government or private sector? This book attempts to answer those and related questions by exploring the evolution and results of federal policies towards half a dozen economic sectors. Those policies

Overview

What is the government's proper role in the economy? Do free or managed markets best promote economic development? Who can best pick industrial winners and losers, the government or private sector? This book attempts to answer those and related questions by exploring the evolution and results of federal policies towards half a dozen economic sectors. Those policies are largely determined by the representatives of the targeted industry, bureaucrats from agencies and departments that administer that industry, and politicians with firms from that industry in their districts. These 'iron triangles' capture a 'virtuous' political economic cycle in which they use their united power to grant themselves favourable policies which in turn enhances their power. As will be seen, the results of such a politicized industrial policy process varies considerably from one industry to the next.

Editorial Reviews

Booknews
Nester (political science, St. John's U., New York) argues that the debate over whether or not government should regulate business has been going on since the US was founded, and has always been the wrong question. Asserting that all governments have industrial policies, he says the question is how the policies are created and how effective they are. He finds they are forged by an iron triangle of representatives of the targeted industry, bureaucrats in agencies that regulate it, and politicians with targeted industries in their district. He shows how the process has worked in the heavy manufacturing, financial, microelectronic, military, and medical industries. Annotation c. by Book News, Inc., Portland, Or.

Product Details

ISBN-13:
9780312165925
Publisher:
Palgrave Macmillan UK
Publication date:
07/12/1997
Edition description:
1997
Pages:
288
Product dimensions:
5.51(w) x 8.50(h) x 0.03(d)

Related Subjects

Meet the Author

William Nester is the author of more than thirty books on international relations, military history, and the nature of power. He is a Professor in the Department of Government and Politics at St. John s University in New York, USA.

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