Defining Industrial Policy

These is basic agreement among industrial policy supporters on certain broad tenets, invariably expressed in the new jargon:

*Restructuring: The redesign of managerial and labor practices in return for government benefits.

*Targeting: The overall coordination of government aid to specific industries, whether high-tech or smokestack.

*Worker retraining: The education of unemployed workers to perform new tasks.

*Infrastructure reconstruction: The rebuilding of roads, bridges and the like.

However, there is sharp disagreement within the ranks over how these goals are to be achieved. The New York Times, August 28, 1983