In a new @epi report, Josh Bivens makes the case that Industrial policy and policies to rebalance labor market power are strong complements, not substitutes.
Full report:
https://www.epi.org/publication/industrial-policy/
Economic Policy InstituteThe industrial policy revolution has begun, but another is still needed: Industrial policy and policies to rebalance labor market power are complements, not substitutesThree laws passed in 2022—the CHIPs and Science Act, the Infrastructure Investment and Jobs Act (IIJA), and the Inflation Reduction Act (IRA)—are often said to signal that the Biden administration has embraced industrial policy as a new economic framework for the United States. This turn towards industrial policy has been applauded by many on the…