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Friday, February 17, 2012

Obama Export Policy Plays Favorites


“Air India got U.S. government support and used it to vanquish the competition. With the help of cheap loans backed by American taxpayers, the airline bought Boeing 777s — which were manufactured in the United States by American workers — and then launched nonstop service between New York City and India’s business capital, Mumbai. The only problem was that the competition on that route was Delta, which says it was forced to abandon the nonstop daily service it had pioneered two years earlier.” (Washington Post)

There’s no such thing as a neutral industrial policy.

FEE Timely Classic
“The Genesis of Industrial Policy” by Thomas J. DiLorenzo