Please ensure Javascript is enabled for purposes of website accessibility
Zakaria: Biden Shouldn’t Repeat the Mistakes of Industrial Policies Past
By admin
Published 2 years ago on
September 24, 2023

Share

The Biden administration has pursued a new and ambitious economic agenda, premised on the notion that the prevailing orthodoxy of the past few decades — specifically, the imperative to embrace free markets and free trade — was inadequate to the needs of the U.S. economy.

Initial data from the Treasury Department suggests these policies have succeeded.

But two scholars who studied 50 years of American industrial policy concluded that the most successful efforts in the past, by far, were those that funded basic research and development and opened foreign markets to American goods. Those that promoted particular industries or implemented trade barriers proved to be costly failures.

Read more from Fareed Zakaria at The Washington Post

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

US Consumer Spending Slows in April, Inflation Benign

Taylor Swift Has Regained Control of Her Music, Buys Back First 6 Albums

1 hour ago

How Trump’s Vow to Revoke Chinese Student Visas Could Hurt California

1 hour ago

Visalia Teen Takes Second Place in Dramatic Scripps National Spelling Bee Finals

Sarvadnya Kadam, a 14-year-old Visalia eighth grader, came only a few letters short of claiming the championship in the Scripps National Spe...

31 minutes ago

31 minutes ago

Visalia Teen Takes Second Place in Dramatic Scripps National Spelling Bee Finals

1 hour ago

Newsom Tussles With Local Officials Over Homelessness

fresno shooting
1 hour ago

Fresno Police Arrest Two Women Suspected in Targeted Shootings

1 hour ago

Taylor Swift Has Regained Control of Her Music, Buys Back First 6 Albums

1 hour ago

How Trump’s Vow to Revoke Chinese Student Visas Could Hurt California

1 hour ago

Speaker Johnson Raises Campaign Money in Fresno

2 hours ago

2025 Stanley Cup Playoffs: Panthers-Oilers Final Rematch, Who Is Favored and What to Watch For

2 hours ago

Visalia House Fire Causes Evacuations, Road Closures

Help continue the work that gets you the news that matters most.

Search

Send this to a friend