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Industrial Policy in Advanced Capitalist Democracies

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“ There are three major arbitrary divisions that strive to attain a greater economic share which includes workers, government officials, managers and other such authorized persons” . The major problem with National Industrial Policy is that information related to the necessities of what people require cannot be determined outside the market process. Industrial policy in America has influence from various other countries and used the theory internally according to the political necessities “ America “ discovered” that other industrial countries practice something with the unfamiliar name of “ industry policy” which seems to vitalize their domestic industries and enhance the international competitiveness of their products” .

If left undisturbed, markets will surge forward on own and will turn out very good results. When there is no clear-cut industrial policy the resources and the capital will be used in areas where there is more competition and where the market is bound to expand. In government institutions, the technology is introduced slowly and also hesitantly as the government fears that there will be more job cuts happening in such cases. In order to overcome such situation, these labors can be employed in the areas of maintaining and programming of such modern technology.

It is through some advanced technology will the industry reach the heights of success. At last, advocates of industrial policy believe a great amount of stupidity on the part of profit-maximizing entrepreneurs, consumers, and workers. Supporters contend that entrepreneurs are methodically willing to close profitable plants, grossly abuse workers who are needed for manufacturing and the profits they seek and are unwilling to settle in when adjustment can translate into endurance, if not for considerable amounts of profits.

Owing to several problems, the workers suffer from indecision when it comes to training and continuous training as people are not provided with the knowledge of the current decisions which in turn affects the citizens.

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preview essay on Industrial Policy in Advanced Capitalist Democracies
  • Pages: 6 (1500 words)
  • Document Type: Essay
  • Subject: Politics
  • Level: Undergraduate
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