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New Perspectives on Industrial Policy for a Modern Britain$
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David Bailey, Keith Cowling, and Philip Tomlinson

Print publication date: 2015

Print ISBN-13: 9780198706205

Published to Oxford Scholarship Online: August 2015

DOI: 10.1093/acprof:oso/9780198706205.001.0001

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Industrial Policy for a Sustainable Growth Path

Industrial Policy for a Sustainable Growth Path

(p.364) (p.365) Chapter 19 Industrial Policy for a Sustainable Growth Path
New Perspectives on Industrial Policy for a Modern Britain

Karl Aiginger

Oxford University Press

This chapter reviews the premise for industrial policy to revive European manufacturing. In doing so, there is a critical appraisal of ‘old industrial policies’ which makes the case for a new coordinated approach that essentially focuses upon ‘high-road’ strategies and competitiveness. A critical adjunct is for a more holistic approach to assessing progress measures which go ‘beyond GDP’, so as to better account for wider social welfare in policy. Within this framework, there is significant scope for industrial policy to develop new green technologies, while simultaneously achieving wider societal goals based on social and ecological innovation. The chapter argues these challenges might be met by setting incentives, particularly those impacting on technical progress, and through the role of governments in the education and research sectors in promoting greater public awareness, especially with regards to socio-ecological transition within the economy.

Keywords:   high-road strategies, new industrial policy, activating social policy, environmental ambition, sustainable development, socio-ecological transition

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