National Review: General Lesson against Industrial Policy Offered by Inflation Reduction Act

TL/DR –

The article discusses the Inflation Reduction Act, suggesting that it offers lessons against industrial policies. It questions the government’s ability to control or direct economic outcomes, pointing out that past similar attempts, like wage and price controls, have often resulted in negative consequences. The author posits that industrial policy can lead to inefficiencies, corruption, and unwelcome political interference in the economy.

Inflation Reduction Act: A Case Against Industrial Policy

The Inflation Reduction Act brings to light the drawbacks of industrial policy. This piece of legislation underscores the potential pitfalls of government interference in the free market economy. The act’s implications serve as a comprehensive lesson against industrial policy, which may be valuable to policymakers and economists alike.

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