Industrial policy isn’t being done poorly. It’s just bad economics

American industry has been receiving significant hands-on direction from Democrats and Republicans for quite some time now. Every few years, someone looks at the underwhelming results of this economic maneuvering and insists that real “industrial policy” has never been truly tried.
The truth is that the Left’s call for a “mission-oriented” state and the Right’s yearning for a nationalist industrial revival may sound different, but they share the same central c