Gute Industriepolitik setzt auf Wettbewerb und Innovation
Digitalisation, the energy revolution and China’s transformation into an important competitor all pose major challenges to economic policy. Politicians are responding by considering creating “European champions” or intervening in the economy. Many economists consider a horizontal industrial policy without specifi c support for individual sectors to be the right one. Direct intervention, however, may not only lead to a technological impasse, but could also deter competition. But it is indispensable in an economy dominated by network effects and path dependencies, especially because investments are associated with great uncertainty about the future and high risks. Industrial policy should ultimately focus on the goal of achieving greater welfare and sustainability for society as a whole.
Schmidt, C. (2019), Gute Industriepolitik setzt auf Wettbewerb und Innovation. Wirtschaftsdienst, 99, 2, 91-94