Stuart Anderson writes in Forbes on new research about Japan’s industrial policy.
- New research from the National Foundation for American policy has found that post-war Japanese industrial policy does not work.
- Specifically, the study found that heavily subsidized industries were the slowest growing sectors of the economy while industries that were driven by private investment were the fastest.
- As the United States looks to accelerate clean technologies, Japan’s industrial strategy provides a cautionary tale. We should embrace economic freedom and private sector innovation, not subsidies and government cronyism.
Read the full article here.