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Industry and Policy I: Theory and Competition Policy

  • Keith Hartley
  • Nick Hooper
Chapter
Part of the Macmillan Texts in Economics book series (TE)

Abstract

Industrial policy focuses on firms, industries and markets and their performance. Continued concern about the relatively poor performance of the UK economy in world markets has resulted in governments formulating various policies to ‘improve and solve’ the problem. Inevitably, the various policy solutions have some impact on firms, industries and their efficiency and so might be classified as part of industrial policy. For example, education policy affects the supply of skilled labour and its productivity for firms and industries; social security and taxation policy affects the willingness to work and the incentives to effort and enterprise; and road building affects industry’s transport costs and its access to product and factor markets. Policies with a more direct impact on industry are those which affect ownership, industrial structure, the behaviour of firms and their performance. In the UK, these issues have been a source of continuing controversy between the major political parties.

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Copyright information

© Keith Hartley and Nick Hooper 1997

Authors and Affiliations

  • Keith Hartley
  • Nick Hooper

There are no affiliations available

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