The Facts

We can’t go back to the economy of the past—a high-consumption, low-wage economy based on asset bubbles and foreign borrowing. Our response to the current crisis must plant the seeds for the economy of the future. America needs an industrial policy to shape that future. From workforce development to component manufacture, we need a strategic collaboration between the private sector and the government to reach our shared national goals. This report makes the case for that policy and explains what should be the key elements. more »

It is fitting that the G-20 summit meets in Pittsburgh in late September 2009. Pittsburgh has come back from enormous setbacks in its dominant industry, steel, through a combination of deliberate planning, public investment, and partnerships between government and private industry. But Pittsburgh’s comeback reveals the limitations of local efforts. In the absence of a national industrial strategy and a different approach to trade, the U.S. will be lucky to end up where Pittsburgh is now. This report examines the lessons national policy leaders should learn from Pittsburgh's experience. more »