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“America does not believe that it has an industrial policy, but where it actually does, and where you really see it, is in defense policy. The United States spends hundreds of billions of dollars on manufacturing weapons, tanks, ships—everything that the military and the Pentagon need. This is where factories get made; this is how universities get funded…What Lowen has done is explore—from the 1930s to the 1970s—why universities expanded the way they did. The thesis is that in the post-World War Two era, universities needed funding. In the 1930s, the entire university system in the United States was impacted by the Great Depression, from their own endowments to the people paying the tuition and also donations. The universities were looking around and saying, how do we grow in this coming era? What Lowen finds is that the universities start looking for funding from the federal government. They start asking for more research grants, they start asking for more subsidization of the system, and on top of that, they’re also looking to private industry for the first time for support.” Read more...
The best books on Industrial Policy
Danny Crichton, Journalist
