Objectives .................................................................................................................. 1 Why the government needs an industrial strategy...................................................... 2 How should government intervene? Eight lessons from the past ............................... 2
Well-being – the evidence.......................................................................................... 9 Sustainability ........................................................................................................... 11 Social justice............................................................................................................ 12 The implications for policy – ten objectives .............................................................. 13 Successful industrial policy ...................................................................................... 18 Debunking some myths about post-war economic history........................................ 19 But does it work in theory? ....................................................................................... 21 Dealing with the objections ...................................................................................... 22 UK car manufacture versus aerospace .................................................................... 24 UK and French pharmaceuticals .............................................................................. 25 Asian industrial production: investment and monetary policy ................................... 27 Some conclusions from the past .............................................................................. 28
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