Republicans scream Socialism! Not including health, education or infrastructure, more than 52% of our annual budget is spent on controlling the military market, rarely open to competition, and certainly not what trumpets call a free market.
We already have large-scale industrial policy in the United States and it’s called “defense procurement”
- Why does the United States have one of the most robust aircraft-manufacturing industries in the world? The answer is not that pure free markets have, through the workings of a natural law, granted us such a bounty.
- Why does the United States have one of the most sophisticated, innovative electronics industries in the world? Raytheon’s take from the Pentagon in 2006: $10.4 billion; Computer Sciences, $2.7 billion. And so on. General Motors received $806 million dollars that year, mostly from the Army, enough to make it the fortieth largest defense contractor on the list…
Building a Green Economy or a workable medical system is not revolutionary. We already use centrally planned industrial policy.