Laura Tyson and John Zysman for PS On Point: The New Industrial Policy and Its Critics

Laura Tyson and John Zysman explain how a government-led economic strategy can promote market competition and innovation. [View this message in a web browser]( [PS On Point]( NOVEMBER 17, 2023 With major legislation designed to support domestic production and shore up access to critical supplies, the United States has revived industrial policy for the twenty-first century. Considering the geopolitical and environmental challenges that all countries face today, write Laura Tyson and John Zysman of the University of California, Berkeley, such a paradigm shift is easily justified. [Read more]( [PS Longer Reads: The New Industrial Policy and Its Critics]( [The New Industrial Policy and Its Critics]( By Laura Tyson and John Zysman For many years, industrial policy was considered taboo in the United States and many other advanced economies, owing to assumptions that it is inherently protectionist and market-distorting. But context matters, and in today's world, state interventions to address market failures are exactly what is needed. [Read more]( [PS. Subscribe to PS Digital for less than $5 per month.]( [PS Big Picture: The Revenge of the Inflation Doves]( [The Revenge of the Inflation Doves]( with Joseph E. Stiglitz, Jayati Ghosh, Jeffrey Frankel, and James K. Galbraith When inflation began to surge in the United States in 2021, battle lines were quickly drawn among economists: some insisted that the price increases were transitory – the result of temporary factors, especially supply-chain disruptions – while others blamed massive fiscal stimulus and called for a forceful monetary-policy response. With new data showing a significant decline in inflation, alongside relatively robust employment and GDP growth, has “team transitory” been proven right? [Read more]( [PS Longer Reads: The Hidden Gender Wealth Gap]( [The Hidden Gender Wealth Gap]( By Céline Bessière and Sibylle Gollac As important as equal pay and other labor-market advances for women have been, progress toward economic parity with men remains tenuous and incomplete. As inequality becomes less about wages and more about wealth, women once again find themselves facing profound structural disadvantages. [Read more]( [PS. Explore the latest issue of our magazine, PS Quarterly: Stayin’ Alive.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.