American Industrial Policy

1. Front Matter

   Pages i-v

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2. Introduction: The Great Debate — Free or Managed Markets?

   • William R. Nester

   Pages 1-13

3. Steel and Automobiles: The Heavy Industrial Complex

   • William R. Nester

   Pages 14-56

4. Banks and Stocks: The Financial Industrial Complex

   • William R. Nester

   Pages 57-99

5. Chips and Networks: The Microelectronics Industrial Complex

   • William R. Nester

   Pages 100-133

6. Weapons and Spaceships: The Military-Industrial Complex

   • William R. Nester

   Pages 134-192

7. Doctors and Drugs: The Medical-Industrial Complex

   • William R. Nester

   Pages 193-240

8. Back Matter

   Pages 241-288

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What is the government's proper role in the economy? Do free or managed markets best promote economic development? Who can best pick industrial winners and losers, the government or private sector? This book attempts to answer those and related questions by exploring the evolution and results of federal policies towards half a dozen economic sectors. Those policies are largely determined by the representatives of the targeted industry, bureaucrats from agencies and departments that administer that industry, and politicians with firms from that industry in their districts. These 'iron triangles' capture a 'virtuous' political economic cycle in which they use their united power to grant themselves favourable policies which in turn enhances their power. As will be seen, the results of such a politicized industrial policy process varies considerably from one industry to the next.

• economy
• government
• Policy

• St John’s University, New York, USA

  William R. Nester

William Nester is the author of more than thirty books on international relations, military history, and the nature of power. He is a Professor in the Department of Government and Politics at St. John s University in New York, USA.

Policies and ethics