Why this white paper on industrial strategy is good news (mostly) | Michael Jacobs

Yes, there are flaws and omissions, but in accepting that government has a vital role to play in creating a healthy economy, this is a big step forward

Praise be. A Conservative government has published a comprehensive industrial strategy which explicitly acknowledges that the state has a key role to play in steering and coordinating economic activity. So let's give credit to Theresa May and Greg Clark for facing down their own backbench (and several frontbench) free marketeers who deny this fundamental principle of successful economic policy. And then let's hope this white paper finally lays to rest the political and media orthodoxy that the economy grows best when "free enterprise" is left to itself; and that government helps the economy most when it intervenes least.

The UK's economy has been systematically underperforming on almost every key measure

Related: Life is going to turn very nasty if we can't solve the growth puzzle | Andrew Rawnsley

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