This paper argues that the issues raised by the industrial policy debate are as much political as they are economic. There is every reason to believe that, without substantial reform of political institutions, efforts to administer a rational new industrial policy would soon degenerate into the...

The accelerating United States trade deficit has again focused widespread political attention on industrial policy issues. However, given the breadth and complexity of the industrial policy issues, we can be confident that strengthening the U.S. international trade position will not be...

Public choice analysis has clearly demonstrated the need to consider the roles of rent seeking and bureaucratic self-interest in influencing the international economic policies of national governments and the behaviour of international organisations. We have reached a stage, however, where more...