- New Horizons in Regional Science series
Edited by Philip Cooke, Mario Davide Parrilli and José Luis Curbelo
Chapter 13: Conceptualisations, Relationships and Trends between Innovation, Competitiveness and Development: Industrial Policy Beyond the Crisis
Patrizio Bianchi and Sandrine Labory 1. INTRODUCTION This chapter provides some thoughts on industrial policy beyond the crisis, which are based on a long-range research by the authors (Bianchi and Labory, 2011).1 This research suggests that the crisis reveals longterm structural changes in the economy, which firms in all sectors have to face and which require government intervention. Important structural changes are occuring in organisations, hence the division of labour, with deep implications not only from an economic point of view but also from a social and political point of view. We suggest that adequate industrial policies, in the broad sense of intervention to sustain firms’ competitiveness and re-structuring, have as a consequence to be defined in a holistic manner. 2. A LONG-PREPARED CRISIS We have analysed the crisis in depth elsewhere (Bianchi and Labory, 2010) and shown that what the crisis mainly reveals is the inadequacy of the world regulation system defined in Bretton Woods, although adjusted through time. The world has changed, the main characteristic of which is the emergence of new economic and political powers, especially that of China. The supremacy of the USA remains, but is brought into question by its financial dependence on China. The dominant regulation model has been liberal, the main rules of which can be found in the Washington Consensus. The crisis is due to a burst bubble of the American economy, the financial sector booming to exponential levels while private and public debt 295 M2938 - COOKE TEXT.indd 295 27/07/2012...
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