Industrial Policy for the United States

Marc Fasteau is a vice-chair of the Coalition for a Prosperous America. Before founding an insurance company acquired by Progressive, he was a partner at Dillon Read & Co., a New York investment bank. Earlier in his career he served on the professional staffs of the US Senate majority leader, the Joint Economic Committee and the House Banking and Currency Committee. He is a graduate of Harvard College and Harvard Law School, where he was on the Harvard Law Review. Ian Fletcher is on the Advisory Board of the Coalition for a Prosperous America. He is the author of Free Trade Doesn't Work and coauthor of The Conservative Case against Free Trade. He was a senior economist at the Coalition and previously a research fellow at the US Business and Industry Council. He was educated at Columbia and the University of Chicago.

• Preface; Introduction; Part I. The Underlying Economics: 1. Why the free market can't do everything; 2. The dynamics of advantageous industries; 3. The Industrial Policy Tool Kit; 4. Trade, currencies & industrial policy; Part II. Country Case Studies: 5. Japan: the first Asian miracle; 6. Korea: development despite turbulence; 7. China: pursuing economic hegemony through mercantilism; 8. Germany: the art of relationship capitalism; 9. France: the triumph & failures of the state; 10. Britain: no theory & little execution; 11. India: dysfunctional socialism, directionless capitalism; 12. Argentina: a dual cautionary tale; Part III. The Forgotten History: 13. The renaissance origins of industrial policy; 14. US industrial policy 1750–1865: developing a new nation; 15. US industrial policy 1866–1939: the highpoint of protectionism; 16. US industrial policy 1940–1973: the golden age of the us economy; 17. US industrial policy 1974–2007: doubling down on free markets; 18. US industrial policy 2008–present: the end of the old order; Part IV. Innovation as A System: 19. Governmentally supported innovations; 20. Federal science & technology programs; 21. Federal proactive innovation programs; 22. Industrial policy for advanced manufacturing; 23. Micro-governance of industrial policy; 24. The crisis of the American patent system; Part V. Industry Case Studies: 25. Automobiles: decline & a chance at revival; 26. Semiconductors, aviation & space: the military connection; 27. Robotics: a global industrial policy competition; 28. Nanotechnology: is America losing the future?; Part VI. Regional Cluster Case Studies: 29. The Massachusetts life sciences cluster; 30. The upstate New York semiconductor cluster; Recommendations: an industrial policy for the United States; Notes; Select bibliography; Index.

'America needs a new economic consensus to overthrow decades of industrial decline and subservience to Communist China. This book lays the intellectual groundwork for that consensus-one that would make for a stronger, more prosperous nation. It couldn't come at a better time.' Marco Rubio, Secretary of State, United States Department of State