Learning from Industrial Policy Successes and Failures: Public Banks, Green Steel, and Dirty Steel
Wednesday, March 27
11:00 am - 12:00 pm ET
Zoom
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Dear John,
The US is in the middle of an industrial and economic renaissance. Multitrillion-dollar investments through the American Rescue Plan, Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act have led to record levels of domestic manufacturing. The contribution of manufacturing construction to national income is setting new records on an almost monthly basis.
But what comes next for the industrial policy agenda? And how can the US turn its investments into successful economic development strategies that also help to achieve zero emissions by 2050? Join the Roosevelt Institute on March 27 as we bring together an exciting panel of experts to tackle these questions.
First, professor of law at Cornell University and Roosevelt Senior Fellow Saule Omarova will discuss her report Finance as a Tool of Industrial Policy: A Taxonomy of Institutional Options, looking at the lost history of national development banks—institutions that can help plug financing and capacity gaps when private markets can’t or won’t. Then, Jonas Algers, Copenhagen-based political economist, will show how public banks and other public institutions are helping make Sweden into the global champion of green, zero-carbon steel, putting new competitive pressures on the US, by discussing his report Leading With Industrial Policy: Lessons for Decarbonization from Swedish Green Steel. Finally, economist and Roosevelt Institute deputy director Isabel Estevez will discuss her forthcoming working paper, “The Political Economy of Steel Decarbonization: Prospects and Challenges of a Green Steel Transition in Dearborn, Michigan,” which raises concerns that the US is not doing as much as it could to keep up with its competitors, and outlines ways to turn this around at the federal, state, and local levels.
We hope to see you there!
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Todd Tucker
Director, Industrial Policy and Trade, Roosevelt Institute
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Jonas Algers
PhD student, Lund University
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Isabel Estevez
Deputy Director, Industrial Policy and Trade, Roosevelt Institute
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Saule Omarova
Professor of Law, Cornell University and Senior Fellow, Roosevelt Institute
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