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Palgrave Macmillan

American Industrial Policy

Free or Managed Markets?

  • Book
  • © 1997

Overview

Authors:
  1. William R. Nester

    1. St John’s University, New York, USA

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Table of contents (6 chapters)

  1. Front Matter

    Pages i-v
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  2. Introduction: The Great Debate — Free or Managed Markets?

    • William R. Nester
    Pages 1-13

  3. Steel and Automobiles: The Heavy Industrial Complex

    • William R. Nester
    Pages 14-56

  4. Banks and Stocks: The Financial Industrial Complex

    • William R. Nester
    Pages 57-99

  5. Chips and Networks: The Microelectronics Industrial Complex

    • William R. Nester
    Pages 100-133

  6. Weapons and Spaceships: The Military-Industrial Complex

    • William R. Nester
    Pages 134-192

  7. Doctors and Drugs: The Medical-Industrial Complex

    • William R. Nester
    Pages 193-240

  8. Back Matter

    Pages 241-288
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Keywords

About this book

What is the government's proper role in the economy? Do free or managed markets best promote economic development? Who can best pick industrial winners and losers, the government or private sector? This book attempts to answer those and related questions by exploring the evolution and results of federal policies towards half a dozen economic sectors. Those policies are largely determined by the representatives of the targeted industry, bureaucrats from agencies and departments that administer that industry, and politicians with firms from that industry in their districts. These 'iron triangles' capture a 'virtuous' political economic cycle in which they use their united power to grant themselves favourable policies which in turn enhances their power. As will be seen, the results of such a politicized industrial policy process varies considerably from one industry to the next.

Authors and Affiliations

  • St John’s University, New York, USA

    William R. Nester

About the author

William Nester is the author of more than thirty books on international relations, military history, and the nature of power. He is a Professor in the Department of Government and Politics at St. John s University in New York, USA.

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