Thoughts on “Industrial Policy”

Once again, I'd love to read it, but not if it means giving Huffington ad revenue.

The Road to Serfdom:

"What exactly are the "industrial policies" that Fritz and his protectionist friends champion? We have some industries that are growing rapidly and lead the world. Our computers...our software... We have other industries that are pathetic failures. Our buggy whips...our automobiles... An industrial policy is a plan for hobbling our leading industries with taxes and regulations (such as the "Fritz chip") - and using the proceeds to bail out our failures. The reason that economists oppose this kind of policy isn't that we are being paid off. It's that this kind of policy is the road to poverty."

Obviously, this is a quote from Levine's note ...

Now that was damned good. I am surprised it is in the Huffer's Post.

and did you notice that there is 1 comment posted on Huffpo after the article and it's mocking the big gov progressives.