When a people set out to structure an economy, the most important decisions revolve around how they make markets and regulate competition. Such decisions determine not merely whether their economy will thrive, and how political power will be distributed. They also shape the character of individuals, communities, and society as a whole..
Read MoreIn Europe's World, Open Markets Institute Executive Director Barry C. Lynn writes that in the late 1940s, the United States adopted an industrial policy as sophisticated as any in world history. Rather than seek to build up power and wealth at home, Americans aimed instead to forge a deep and equitable industrial inter-dependence among nations.
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