NEW from @rooseveltinst!
How Industrial Policy Gets Done: Frontline Lessons from Three Federal Officials
I interviewed @katenrg @RonnieChatterji & Satyam Khanna about their time helping set up the offices that are building middle-out economics.
🧵
For arguably the first time since the Roosevelt administration, there's an acknowledged and massive effort to influence the composition and practices of industries operating in the US.
Trillions in public and private capital are moving into communities all over the 🇺🇸.
These industrial policy efforts are not falling from the sky: they're being driven by real people, trying to solve problems in real time.
In this brief, we were interested in one group of said people: the advisors in federal agencies like @ENERGY @EPA & @CommerceGov.
In our conversation, we get into how Kate, Satyam, & Ronnie ended up in the industrial policy trenches, and which (if any) "market failures" the new offices they helped set up are trying to solve.
A common theme: climate change is the big market failure!
A lot of the big Inflation Reduction Act and CHIPS Act projects didn't start getting announced until early 2024 - 1.5 years after the bills were signed.
Our talks revealed why: the budgets and personnel needed to manage the programs entailed major shifts in mission & structure.
Today, the initial results of the industrial policy investments are beginning to be felt.
After years of offshored production, the US will soon be home to all five of the world’s leading-edge chips makers. No other economy in the world has more than two.
There's been six quarters of record-breaking manufacturing construction.
New clean energy factories are being built in places hurt by deindustrialization, as well as places like Moses Lake, that are making clean energy a part of their regional advantage.
There are reasons to think these investments will help make the US' commitment to decarbonization credible and enduring, as the benefits are flowing across red and blue states, urban and rural areas.
For more on the lessons learned from the early years of these new industrial policy offices, check out the full brief @rooseveltinst.
@rooseveltinst @threadreaderapp unroll
NEW from @rooseveltinst!
How Industrial Policy Gets Done: Frontline Lessons from Three Federal Officials
I interviewed @katenrg @RonnieChatterji & Satyam Khanna about their time helping set up the offices that are building middle-out economics.
🧵
For arguably the first time since the Roosevelt administration, there's an acknowledged and massive effort to influence the composition and practices of industries operating in the US.
Trillions in public and private capital are moving into communities all over the 🇺🇸. These industrial policy efforts are not falling from the sky: they're being driven by real people, trying to solve problems in real time.
In this brief, we were interested in one group of said people: the advisors in federal agencies like @ENERGY @EPA & @CommerceGov.In our conversation, we get into how Kate, Satyam, & Ronnie ended up in the industrial policy trenches, and which (if any) "market failures" the new offices they helped set up are trying to solve.
A common theme: climate change is the big market failure!
A lot of the big Inflation Reduction Act and CHIPS Act projects didn't start getting announced until early 2024 - 1.5 years after the bills were signed.
Our talks revealed why: the budgets and personnel needed to manage the programs entailed major shifts in mission & structure. Today, the initial results of the industrial policy investments are beginning to be felt.
After years of offshored production, the US will soon be home to all five of the world’s leading-edge chips makers. No other economy in the world has more than two.
There's been six quarters of record-breaking manufacturing construction.
New clean energy factories are being built in places hurt by deindustrialization, as well as places like Moses Lake, that are making clean energy a part of their regional advantage.
There are reasons to think these investments will help make the US' commitment to decarbonization credible and enduring, as the benefits are flowing across red and blue states, urban and rural areas. For more on the lessons learned from the early years of these new industrial policy offices, check out the full brief @rooseveltinst.
@rooseveltinst @threadreaderapp unroll
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