Industrial policies for a progressive program (by Giovanni Dosi)

Il Fatto QuotidianoIndependentProgressive4 hr. ago

Giovanni Dosi, an esteemed Italian economist and expert in innovation economics, critiques the neoliberal ideology that has negatively impacted Western societies by promoting the idea that the market alone can solve economic issues. He argues this belief has led to reduced growth and increased inequality across Western nations. Dosi notes that even leftist movements have embraced these neoliberal ideas, leading to the marginalization of 'industrial policy' as a concept. He highlights the negative effects of privatizing public industries under the guise of cost-cutting, which has eroded Italy’s unique technological and organizational expertise. Examples include the decline of Telecom and Ilva after privatization. Dosi calls for a reevaluation of the state's role in the economy, emphasizing the need to reclaim areas like healthcare, education, and welfare from market forces.

Bias read (Progressive): The article advocates for a stronger role of the state in the economy, criticizes neoliberal policies, and highlights the failures of privatization. It promotes progressive industrial policies and challenges the dominance of market forces, aligning with left-leaning perspectives.