Industrial Policy: A Solution in Search of a Problem
基于1970年代证据，反驳美国去工业化观点，认为正常经济条件下劳动力和资本能自然转型，无需联邦政府通过产业政策干预，且在美国政治体制下产业政策弊大于利。
Evidence from the 1970s does not support the view that the United States is “deindustrializing.” Nor is there evidence that, in periods of normal (nonrecession) economic conditions, American labor and capital cannot successfully make the gradual but inevitable transition from older to newer industries and occupations. There is no need for a new “industrial policy” under which the federal government attempts to influence industrial structure by some combination of “picking the winners” and “protecting the losers.” Industrial policy is not the secret of Japanese industrial success. And in the American political and governmental structure, such a policy would almost surely do much more harm than good.