Adopt clear evaluation criteria for industrial policies
We must agree on how best to measure their success or failure for a proper debate on their value
It has been a year since US President Joe Biden signed the Inflation Reduction Act into law. The new legislation goes beyond the goal of price control stated in its name. The Inflation Reduction Act works in tandem with other new legislative proposals such as the American Rescue Plan and the CHIPS and Science Act to pivot the US towards active government intervention in industry, through direct investments, tax credits, subsidies and some import tariffs.