Does Nearly Everyone Favor Industrial Policy?

When you walk around, you see no economy. It is not a thing like a machine, a building, or a vehicle. When we say economy, we mean individual persons acting in a series of continuing and more or less regular relationships that involve money in transformation of stuff from less-useful to more-useful forms, as consumers view things. Government officials don’t regulate an economy; they regulate individuals–us!–thereby interfering with our lives, liberties, purposes, and pursuit of happiness.

The Trump/Biden Handoff: Back to Business as Usual, as Usual

Few will find it surprising that the incoming Biden administration looks, in both form and function, a lot like the Obama administration of 2009-2017. After all, Joe Biden served as Barack Obama’s vice-president for those eight years. His staff and cabinet appointments comprise a veritable Who’s Who of Obama holdovers and members of Biden’s own political circle, built over decades in the Senate and White House.