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?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Tulare County Man Convicted of Child Molestation During Burglary Faces Life Without Parole

DON'T MISS

What Local Politicians, LGBT Community Say About Trans Track Star

DON'T MISS

Fresno Man Arrested After Stolen City Vehicle Pursuit, Fires in Madera County

DON'T MISS

Former MLB All-Star Breaks Ground on BMW/Porsche/Audi Dealership in Clovis

DON'T MISS

Fresno, Clovis to Open Cooling Centers as Temperatures Expected to Soar

DON'T MISS

Costco Misses Quarterly Revenue Expectations Amid Reduced Consumer Spending

DON'T MISS

Tulare County Authorities Respond to Double Shooting in Goshen

DON'T MISS

US Appeals Court Reinstates Trump Tariffs, Sowing Market Confusion

DON'T MISS

A Program Paying CA Jurors $100 a Day Would End Due to Newsom’s Budget Cuts

DON'T MISS

Some Glaciers Will Vanish No Matter What, Study Finds

UP NEXT

US Appeals Court Reinstates Trump Tariffs, Sowing Market Confusion

UP NEXT

Under Trump, US Economy Shrinks for 1st Time in Three Years

UP NEXT

CEO Pay Rose Nearly 10% in 2024 as Stock Prices and Profits Soared

UP NEXT

Wall Street Gains After Court Blocks Most Trump Tariffs

UP NEXT

Fed Minutes: Uncertainty ‘Elevated’ as Risks of Higher Inflation and Unemployment Rise

UP NEXT

Elon Musk Criticizes Trump’s ‘Big Beautiful Bill,’ a Fracture in a Key Relationship

UP NEXT

US Consumer Confidence Improves in May, Tariffs Anxiety Lingers

UP NEXT

Trump Re-Escalates Trade Threats, Takes Aim at European Union, Apple

UP NEXT

Stop Making Cents: US Mint Moves Forward With Plans to Kill the Penny

UP NEXT

Gavin Newsom’s Off-the-Mark Budget Numbers Undermine His Credibility Again

Former MLB All-Star Breaks Ground on BMW/Porsche/Audi Dealership in Clovis

7 hours ago

Fresno, Clovis to Open Cooling Centers as Temperatures Expected to Soar

8 hours ago

Costco Misses Quarterly Revenue Expectations Amid Reduced Consumer Spending

8 hours ago

Tulare County Authorities Respond to Double Shooting in Goshen

8 hours ago

US Appeals Court Reinstates Trump Tariffs, Sowing Market Confusion

8 hours ago

A Program Paying CA Jurors $100 a Day Would End Due to Newsom’s Budget Cuts

8 hours ago

Some Glaciers Will Vanish No Matter What, Study Finds

9 hours ago

Dealmaker or Duped? Trump’s Embrace of Putin Shows Few Results

9 hours ago

Fresno Will Build New Firehouse, Replacing ‘Temporary’ Station After 50 Years

9 hours ago

Canada Wants to Kill 400 Ostriches. RFK Jr. and Dr. Oz Want to Save Them.

9 hours ago

Tulare County Man Convicted of Child Molestation During Burglary Faces Life Without Parole

A Tulare County jury has convicted a Porterville man of molesting a 4-year-old girl during a home burglary in 2020, prosecutors said Thursda...

6 hours ago

Serafin Narcisco, 44, of Porterville, was convicted on Wednesday, May 28, 2025, of molesting a 4-year-old girl during a 2020 home burglary. (Tulare County SO)
6 hours ago

Tulare County Man Convicted of Child Molestation During Burglary Faces Life Without Parole

6 hours ago

What Local Politicians, LGBT Community Say About Trans Track Star

A man accused of stealing a City of Fresno vehicle was arrested Wednesday, May 28, 2025, in Madera County after a pursuit that sparked small fires and ended with a crash. (Madera County SO)
6 hours ago

Fresno Man Arrested After Stolen City Vehicle Pursuit, Fires in Madera County

7 hours ago

Former MLB All-Star Breaks Ground on BMW/Porsche/Audi Dealership in Clovis

8 hours ago

Fresno, Clovis to Open Cooling Centers as Temperatures Expected to Soar

8 hours ago

Costco Misses Quarterly Revenue Expectations Amid Reduced Consumer Spending

Tulare County sheriff’s detectives are investigating a double shooting in Goshen after two people were found wounded Thursday, May 29, 2025. (Tulare County SO)
8 hours ago

Tulare County Authorities Respond to Double Shooting in Goshen

8 hours ago

US Appeals Court Reinstates Trump Tariffs, Sowing Market Confusion

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

Search

Send this to a friend