#IndustrialPolicy á la #WhiteHouse -- "crowding-in# par excellence; #Bidenomics with focus on reviving America's #industrial heartbeat, chart Madison Faller @JPMorganAM

@TheEuropeanNetwork
Recent related podcast episode on industrial policy in Romania:

"Romanians were facing two options – either to stay and try to navigate these stormy waters or take the path of the West now that Romanian borders were finally open"
https://tradetalkspodcast.com/podcast/187-industrial-policy-and-the-rise-of-romanias-silicon-valley/

Industrial policy is extraordinarily difficult to get right, and is often a waste of money that could have been better spent elsewhere. This is a rare "success" story
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#economics #trade #TradeTalks #IndustrialPolicy #EU

@epi economist Josh Bivens responds to Larry Summers on Bidenomics, industrial policy, and trade.

https://www.epi.org/blog/the-single-thing-larry-summers-gets-right-about-bidenomics-its-different-than-what-came-before/

#Bidenomics #trade #IndustrialPolicy

@jonty @tryst Britain is desperately trying to show that they're still relevant. This photo was taken at London Gatwick airport.

(No means unique to the UK: China was, perhaps still is, obsessed with "autonomous intellectual property", perhaps out of fear of the West dictating technical standards) #what3words #innovation #UnitedKingdom #GreatBritain #independentIntellectualProperty #autonomousIntellectualProperty #industrialPolicy

But between Christmas and New Years, the Biden Administration quietly added a massive #loophole. You can get the credit if you lease a vehicle, and none of the other restrictions apply to leases. The industry was paying attention, and lease rates for electric vehicles have soared this year.
https://tradetalkspodcast.com/podcast/184-the-us-eu-fights-over-electric-vehicles-and-the-inflation-reduction-act/

🧵 6/6
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#EV #IndustrialPolicy #auto

A couple other notes about the IRA: the Biden administration likes to champion unions in its rhetoric, and that’s great. But a lot of the factories being built with IRA money, such as an electric battery plant in Tennessee, are going to states that have a track record of preventing unionization in their businesses.
https://www.marketplace.org/2023/06/23/one-region-is-especially-benefitting-from-white-house-ev-investment-push/

🧵 4/x
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#IRA #union #IndustrialPolicy

With the Inflation Reduction Act (IRA), the US has chosen industrial policy as the way forward to fight climate change. Economists don’t like industrial policy in general. It’s very hard for governments to get it right. They often end up subsidizing the wrong businesses for political reasons. (E.g. representatives fight to get money for their own states, certain states are more important for presidential elections, etc.)

🧵 1/x
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#IRA #IndustrialPolicy #ClimateChange #economics #usa

Talking green industrial policy and US-China geopolitical relations down under at the National Manufacturing Summit with @WeldAustralia. One month to go! https://bit.ly/3NQVrao #manufacturing #greentransition #greenjobs #climatecrisis #industrialpolicy

#Europe #China #Industry #IndustrialPolicy: "Because the entire European edifice was built on the premise that competition is sufficient to guarantee economic efficiency, there is close to zero technical-administrative capability to enforce industrial policy. Meanwhile, across the Atlantic, austerity has had similarly damaging effects on state capacity. Asked about the viability of Biden’s programme, Brian Deese, the former director of the National Economic Council, sounded a cautious note: ‘A lot of that comes down to the professionalism of the civil service at the federal level and the state and local level – a lot of which has been hollowed out.’"

https://newleftreview.org/sidecar/posts/hollow-states

The UK’s new semiconductor policy involves support of initially £200m. Put that against Biden’s $52B. If only we could be part of a big push within a huge market on our doorstep. Maybe we could call it a single market?
#UKEconomy #UKGovernment #industrialpolicy

RT @HilaryBayne
👂🏻on Nucor's Q1 earnings call: IRA + IIJA + CHIPS = up to 8 Mtpa of additional steel needed every year for the next decade. That's about 7% of US steel production today. #IndustrialPolicy

LEAK: EU Council legal opinion slams Single Market Emergency Instrument https://www.euractiv.com/section/economy-jobs/news/leak-eu-council-legal-opinion-slams-single-market-emergency-instrument/?utm_source=dlvr.it&utm_medium=mastodon #AndreasSchwab #CouncilLegalService #IndustrialPolicy

Thank you U.S. GSA Administrator Robin Carnahan for joining us and Third Way Energy to discuss how we can continue to prioritize worker-centered policies—like #BuyClean—that create good-paying jobs for middle-class families. http://bit.ly/42Y4dc4 #BuyCleanAmerica #IndustrialPolicy

#ICYMI we hosted #BuyCleanAmerica with Third Way Energy to highlight how #BuyClean can help us harness the government’s vast purchasing power to continue to create good-paying jobs for working families. http://bit.ly/42Y4dc4 #InflationReductionAct #IndustrialPolicy

Global labor markets could be just as directly affected by what GPT-4, Bard, #LLM s cannot do - dexterous work with hands.

Here's a list of research questions and story ideas for budding economists and journalists, with some reflections on their import:

https://scotoma.substack.com/p/llms-and-blue-collar-jobs

#GPT4 #Bard #artificialintellegence #labormarket #BlueCollar #economicimpact #economics #researchQuestion #jobs #India #industrialPolicy #finance #morganstanley #jobprofile

It's not often I've heard this kind of sentiment from climate economists:

"Economists’ opposition to industrial policies often comes in the form of recommending a humbler role for government. To be helpful in the era of green industrial policy, economists may need to accept a humbler role for themselves..."

#EconTwitter #ClimateChange
#IndustrialPolicy

https://www.energypolicy.columbia.edu/economists-can-be-helpful-in-the-era-of-green-industrial-policy/

Don't miss this good assessment of the current state of political chess in the #semiconductor trade wars | Do you enjoy your current lifestyle? Then stay abreast of these developments | #industrialpolicy | https://thediplomat.com/2023/03/the-future-of-the-china-us-chip-war/

That last line. 👩‍🍳 💋

https://www.theglobeandmail.com/business/rob-magazine/article-editors-note-march/

#CanPol #CanPoli #Industrialpolicy #hypocrisy

Once criticized by conservatives as "picking winners and losers" and by progressives as corporate welfare, a U.S. industrial policy is enjoying a rare bipartisan consensus, even in staunchly Republican states like Ohio…

https://www.reuters.com/markets/us/us-manufacturers-see-big-boost-government-subsidies-tax-breaks-2023-02-23/

#industrialpolicy

“#Globalization” may have become an American pejorative, but it delivered spectacular world growth from 1950 until 2010. Even as the United States strays from the tenets of an open world economy, other capitals still see the wisdom of continuing the course—but without Washington at the helm," write Gary Clyde Hufbauer and Megan Hogan, both at the Peterson Institute for International Economics, in a new piece for our #IndustrialPolicy series (views are their own).

https://www.promarket.org/2023/02/21/biden-embraces-buy-america-doubles-down-on-trade-protection/