Sunday, February 22, 2009

"Buy American" as industrial policy!

"We are behind other countries in solar and wind turbine technology, and Buy America is an incentive for American companies to catch up. It is not just trade protection but a form of industrial policy", says Robert Pollin, an economist at the University of Massachusetts at Amherst and a consultant to the Alliance for American Manufacturing.

Pollin could have taken these words out of the mouths of Commerce Ministers of any developing country, against bitter opposition from the counterpart US Commerce Secretary not so long ago! How quickly have the roles changed!

Update 1
Edward Glaeser puts in perspctive any plan, industrial policy, to bailout the Big Three automakers.

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