Economics, Econometrics and Finance
2 years ago

UK Government's Industrial Policy Fuels Job Creation but Fails to Revive Struggling Regions

Local Economy The Journal of the Local Economy Policy Unit
Industrial Policy
Dominic Williams

Paper Summary

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The article discusses how the Labour government from 1997 to 2010 used economic theory to justify state intervention in the market. They focused on creating public jobs and jobs dependent on public sector spending instead of having a specific industrial policy. The goal now is to find a new way to boost the economy in less prosperous areas of the UK.