Promoting Growth and Welfare in Times of Crisis
Edited by Charlie Karlsson, Charlotte Silander and Daniel Silander
Chapter 7: Industrial policy in the post-industrial society: is the EU on the right track?
The authors discuss the controversial area of industrial policy which, after the 2008 crisis, faced the reaction that markets do not always perform optimally for society, generating a demand for new policy models. The chapter shows how the views on industrial policy have changed from a long-term perspective, with a special focus on the post-war period up to the current post-industrial society. The authors argue that industrial policies should be placed at the regional level and that small- and medium-sized regions need different policies than do large urban regions. In addition, this chapter briefly evaluates the EU’s current approach to industrial policy – the so-called smart specialisation – and sheds light on the problems related to this policy initiative.
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