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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.

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

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