Focus On A Free Market, Not An Industrial Policy

The preoccupation with industrial policy by the new Clinton team fails to take into account that today's economic doldrums are a direct consequence of massive industrial policies that have been in effect in our country since the beginning of World War II ("Whatever you call it, industrial policy is on the way," Top of the News, Dec. 28). The only justification for an industrial policy is to produce a result other than that which would arise from the free market. The military-industrial Establishment, against which we were warned by President Eisenhower, is a direct consequence of industrial policies. What we most urgently need today is to reduce those policies to only that which can be justified on purely military-defense grounds.

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