Keywords
technological development
innovation
market failures
government intervention into economy
How to Cite
Abstract
The paper studies theoretical approaches towards economic effectiveness of industrial policy by dividing them into the groups “for” and “against”. Taking into account the fact that the arguments suggested by group “against” are of purely natural and plain character, we focus more on the arguments of the group “for”. Basing on the analyses we conclude that scientific discussions about industrial policy are logically ended with “diplomatic victory” of the proponents of industrial policy.
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