Biden has inaugurated something of an economic policy revolution. Industrial policy refers to government efforts to promote the development of particular industries. Critics often call this government meddling that subverts the wisdom of the free market. But Democrats and a few Republicans have cast off whatever reluctance they had about it. He says Democratic losses in small towns and rural areas played a part in the design of these bills. The bills have specific place-based strategies to lift up entire areas that have fallen behind.
