"The appropriate role for industrial policy is to fill in this
marketincompleteness by subsidizing investments in new products. It is agiven
that not all of these additional investments will prove to besocially
profitable. Good industrial policy consists of withdrawingsupport from those
projects that are revealed to be failures, so thatresources do not get bottled
up in unproductive activities. Hence theappropriate criterion of success for
industrial policy is not that"only winners should be picked" (an impossible
task) but that "losersshould be let go" (a much less demanding and more doable
task). Thelatter is the relevant yardstick against which industrial
policiesought to be measured."
Han er ikke den foerste som sier dette, men han har en autoritet somgjoer det nyttig aa vite at han har sagt det. Noen som vet hvem somvar den foerste til aa formulerte noe slikt? Skriv kommentar!
