Not long ago, President Biden promised to transform the American auto industry — “first with carrots, now with sticks” is the analogy The Washington Post used. Now, I don’t know about you, but I’m not sure I’d trust the president to drive my car, much less dictate the future of industrial policy. Yet Biden implemented draconian emissions limits for all vehicles, ensuring that within nine years 67% of all new passenger cars and trucks will be electric. In the old days, a centralized state controlling manufacturing and commerce, production, prices, wages and conditions in our biggest sectors would be called...