Abstract
In Chapter 1 has been briefly sketched the global context in which the debate over industrial policies in developed countries has been getting under way. Industrial policies in Western Europe, especially in the countries of the European Community, have been drawing most of the fire, particularly from the United States and, increasingly, the more advanced of the developing countries against whose exports of manufactures the corresponding industries in developed countries are finding it hard to compete.
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Notes
James E. Meade, The Intelligent Radical’s Guide to Economic Policy: the Mixed Economy (London: Allen & Unwin, 1975) pp. 13 and 14.
D. L. Hodgson, ‘Government Industrial Policy’, National Westminster Bank Quarterly Review, London, August 1977, pp. 6–18.
S. C. Littlechild, The Fallacy of the Mixed Economy (London: Institute of Economic Affairs, 1978) p. 68.
Gerard and Victoria Curzon, Hidden Barriers to International Trade, Thames Essay No. 1 (London: Trade Policy Research Centre, 1970) p. 3.
N. Jequier, ‘Computers’, in Raymond Vernon (ed.), Big Business and the State (London: Macmillan, 1974) p. 219.
In Martin Wolf, Adjustment Policies and Problems in Developed Countries, Working Paper No. 349 (Washington: World Bank, 1979), there is advocated ‘carefully designed general industrial, regional and manpower policies’ to help firms, workers and regions affected by structural decline.
James Cassing advocates, in Irving Leveson and James W. Wheeler (eds), Western Economies in Transition: Structural Change and Adjustment in Industrial Countries (Boulder: Westview Press, for the Hudson Institute, 1980), that assistance should only be afforded to workers and regions.
Charles P. Kindleberger, Government and International Trade, Essays in International Finance (Princeton: Princeton University, 1978) p. 13.
Robert K. Merton, The Unanticipated Consequences of Purposive Social Action’, American Sociological Review, vol. I, 1936, pp. 894–904.
In some countries enjoying representative government public attention has been focussing on how the power of the executive can be contained by the legislature. See, for example, Geoffrey Smith, Westminster Reform: Learning from Congress, Thames Essay No. 19 (London: Trade Policy Research Centre, 1979).
Edmund Dell, ‘The Wistful Liberalism of Deepak Lal’, The World Economy, May 1979, which was a reply to Deepak Lal, The Wistful Mercantilism of Mr Dell’, The World Economy, June 1978.
See Gerard Curzon and Victoria Curzon Price, ‘The Undermining of the World Trade Order’, Ordo, May 1979, pp. 383–407. Although GATT rules with respect to subsidies and state enterprises are fairly comprehensive, and all signatory countries can seek redress under the ‘nullification and impairment’ clause, in practice these provisions are ignored by the guilty and not invoked by the injured.
In this connection, see Jan Tumlir, ‘Salvation Through Cartels? On the Revival of a Myth’, The World Economy, October 1978.
If one has any doubts on the matter, see the analysis by D. Gale Johnson, World Agriculture in Disarray (London: Macmillan, for the Trade Policy Research Centre, 1973).
Arthur Seldon, ‘Micro-economic Controls: Disciplining the State by Pricing’, in The Taming of Government (London: Institute of Economic Affairs, 1979) pp. 67–84.
Frank H. Knight, Risk, Uncertainty and Profit (Boston and New York: Houghton Mifflin, 1921).
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© 1981 Victoria Curzon Price and the Trade Policy Research Centre
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Price, V.C. (1981). Industrial Policy, the Market and the State. In: Industrial Policies in the European Community. Trade Policy Research Centre. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-16640-4_2
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DOI: https://doi.org/10.1007/978-1-349-16640-4_2
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