The dominant economic policy model of the post-war era—which has been called “Anglo-Saxon capitalism”—has focused on the overall economy, markets, and prices, but not on the process by which entrepreneurs, firms, and industries use technology to boost growth and national power.
An alternative model—which could be termed “producerist economics”—focuses on enabling strategically important firms and sectors to increase their production, especially in advanced, traded-sector industries.
Which is closer to your view?
Policymakers have a choice to make on that question, because the United States and other leading Anglo-Saxon economies are now in gradual decline, while countries on the rise—China above all—have targeted strategies to capture global market share in advanced, traded-sector industries.
