Chapter 5: Industrial policy of the Obama administration
The Obama administration has discussed, announced and promoted industrial policy (IP) interventions (without using the specific words too much!) by identifying broad national goals, and then identifying targets toward which these policies can be directed to achieve those goals. IP ideas have been present since the beginning of the 2008 campaign days. However, President Obama started his mandate in very special times and he soon had to adapt all his declarations and actions to focus on the financial crisis. And then, after a short while, the results of the mid-term elections made his capacity to implement the strategic design announced at the beginning of the mandate very weak. The crisis has demanded immediate results since the very beginning with the effect of making long-run goals, policy and strategy difficult to explain to the general public and thus support by public opinion was not easy to gain. And after the mid-term elections, the situation became even more complex because the high priority interventions designed to achieve short-run goals needed large bipartisan consensus.
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