In this next part of our exclusive special series with Michael Sekora, founder and director of the Socrates Project within the Reagan White House, we delve into the debate around industrial policy. Does the United States need one or does it violate our founding democratic principles? Or does it come down to how we define an industrial policy?
Sekora notes when it comes to the argument of industrial policy, there are two factors: How we define industrial policy and defining it based on a finance-based perspective.
“Always, the debate goes like this: we need industrial policy because people like China operate as a holistic entity and we’re just a bunch of people operating independently, and there’s no way China—with the size they are, working as a coherent team—is able to—well, there’s no way we can compete against it,” he said….