Industrial Policy’s Risky Revival

The American right, the progressive left, and politicians around the world have long been enamored with industrial policy. While it fell out of Americans’ favor for a time, industrial policy is making a resurgence in the Trump administration and accordingly must be refuted once again.

The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

Industrial policy has staged a remarkable comeback in Washington. Once a term used with caution, if not embarrassment, it’s now embraced across the political spectrum as a tool to reindustrialize America and outcompete China. Whether it’s semiconductor manufacturing, rare earth mining, or green energy technologies, federal policymakers increasingly believe that strategic government intervention is not only justified but necessary.