IPD AI Insights

Industrial Policies: More Market Failures, New Objectives, New Instruments, New worries

Nobel Laureate economist Joseph Stiglitz headlined Princeton University's 14th Annual JRCPFF Conference with a keynote address exploring the new era of industrial policy. The February 2025 event, themed "Building the Future: A New Era of Industrial Policy," brought together leading thinkers to examine evolving approaches to economic development and state intervention in markets.
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Overview

Joseph Stiglitz gave the keynote talk at the 14th Annual JRCPFF Conference: Building the Future: A New Era of Industrial Policy. The conference was held at Princeton University from February 20 – 21 2025.

The Center’s 14th annual conference explored the resurgence of industrial policy in the last decade in response to global challenges like the climate crisis, geopolitical tensions, and supply chain issues. The goals of new industrial policy include assuring a competitive supply of products and technologies, strategically positioning domestic firms in the development of next-generation technologies, addressing market failures, and promoting growth in selected industries. How does the new industrial policy differ from the old? What are the lessons from China’s approach to industrial policy?

How can emerging market nations draft their own industrial policy playbook? What have we learned from the U.S. policies implemented through the CHIPS, IRA, and other recent measures? Find out more here.

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