Your Opinion on the Ostensible Success of Industrial Policy in the US/Korea/etc?
The knowledge economy [in biotech] did not spontaneously emerge from the bottom up, but was prompted by a top-down stealth industrial policy; govern- ment and industry leaders simultaneously advocated government intervention to foster the development of the biotechnology industry and argued hypocrit- ically that government should let the free market work (Vallas, Kleinmann and Biscotti, 2011). In the US, the CIA through In-Q-Tel invested and procured technology in the interest of ‘national security’. In 1960s and 1970s Korea, it is argued that government intervention kickstarted economic growth by ‘choosing winners’ among its conglomerates. Do you think intervention is effective in actually choosing winners, or is there something more going on? submitted by /u/irondumbell [link] [comments]
Article from r/Libertarian: For a Free Society
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