Posted on 05/19/2009 7:22:13 PM PDT by reaganaut1
President Obama has cast himself as a reluctant interventionist in two of the nation’s major industries, Wall Street and Detroit. The federal aid, he says, is a financial bridge to a postcrisis future and the hand-holding will be temporary.
Even so, the scale of the government investment and control — especially by the auto task force now vetting plans at Chrysler and General Motors — points to an approach that has been shunned by the United States more than other developed nations.
“By any coherent definition, this is industrial policy,” said Marcus Noland, a senior fellow at the Peterson Institute for International Economics.
Industrial policy refers to government programs tailored for a specific industry instead of actions whose effects are felt across an economy, like monetary policy or tax rates.
Mr. Obama’s declaration on Tuesday of tougher rules on automobile emissions and mileage standards is both an environmental and an industrial policy. The new national standards require carmakers to produce fleets that are 40 percent cleaner and more fuel efficient by 2016. In the United States, industrial policy has long been viewed with suspicion by many policy makers and economists, who consider it government meddling in the private sector and a violation of free-market principles.
Industrial policy was a hotly debated topic in the 1980s, with the rising challenge from “Japan Inc.” in industries as varied as automobiles and semiconductors. But as the competitiveness of the American economy revived and the Japanese challenge ebbed, the attention to government support faded.
Today, economists, along with public policy and Japan experts, say the model sometimes has a role, and they point to qualified success stories. But with Washington venturing into this area, they warn that industrial policy tends to be strewn with pitfalls, as political influence too often trumps economic efficiency.
(Excerpt) Read more at nytimes.com ...
BWAHAHAHAHA...I stopped reading right there.
And the Church, to boot.
Poor, reluctant servant.
Killing of Freedom continues...
Yes, that is laughable, I stopped there too.
It would be so much more accurate to use words like relishing the opportunity, and zeal for the Marxist cause, eagerness and hustle. This is after-all, just the first 150 days.
All companies that accepted President Franklin D. Roosevelt's Re-employment Agreement or a special Code of Fair Competition were permitted to display a poster showing the Blue Eagle together with the announcement, "NRA Member. We Do Our Part." Consumers were exhorted to buy products and services only from companies displaying the Blue Eagle banner.
From here.
"I thrice presented him a kingly crown which he did thrice refuse."
The NY Time on it knees once again!
. . . and that is exactly what happened.
“Mr. Obama’s declaration on Tuesday of tougher rules on automobile emissions and mileage standards is both an environmental and an industrial policy”
Where the heck did Obamachev get the authority to dictate new standards?
The bloodless coup continues.
It looks like Zero’s sticking his reluctant brown nose everywhere in other peoples’ business where it doesn’t belong.
Americans are NOT BUYING Autos now.
Why would we start buying Obama motors in the future ?
Buy FORD toyota NISSAN volkswagon MERCEDES bmw HYUNDAI saab and Chryslers from all the dealers Obama is closing....but hurry on that last one.
What’s next? The “anti-dog-eat-dog bill” and the “equalization of opportunity” bill?
Seriously folks, with the Sovietization of the USA nearing completion, the last real question we need to start wondering about is what the military will ultimately do: are they going to follow orders, or uphold the Constitution?
detroit couldn't do anything but whimper, "yes, master".
Democrats (Progressives) have already and contine to destroy the once great enterprises of America: autos, tobacco, banking, investment, education....and health is next on the socialist menu. Please wake up, America.
what you don’t want to turn america into the worker’s paradise like cuba?
greedy capitalist!!//sarc
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