Hello,
The Biden administration is breathing new life into industrial policy in the U.S. with over $1.72 trillion in investment through the 2022 CHIPs Act, Inflation Reduction Act (IRA), and the 2021 Infrastructure Investment and Jobs Act. These groundbreaking initiatives will generate millions of jobs and shape new industries and markets.
Economic Liberties has launched a new Industrial Policy and Competition series that examines the intersection of competition policy and industrial policy. Produced in partnership with industry experts, this series will feature deep dives into specific industries, breaking down how policymakers can strike the right balance between supporting a domestic industry and ensuring sufficient competitive pressure to innovate, improve quality, and reduce costs. Our core finding: industrial policies will not be effective in the long-term without adequate competition.
Our inaugural paper, “Lessons from the Heat Pumps Market,” by Michael Murray — a veteran innovator in the energy industry — dives into the structural concerns in the heat pump market, emphasizing the need for competition and explaining how policymakers can do so. The American Prospect's fantastic coverage of our paper aptly highlights our findings, garnering significant social media attention (Nearly 900,000 views and climbing!).
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