Government and business: an introduction

Ken Mayhew

Oxford Review of Economic Policy, 2013, vol. 29, issue 2, 249-260

Abstract: This article considers the apparent renewal of interest in interventionist industrial policies among OECD governments—asking just what, if anything, is new—with particular reference to the UK. It outlines the theoretical justifications for such interventions and discusses issues concerning intangibles, innovation, and infrastructure. It describes the special emphasis placed on re-balancing the structure of production, the central role accorded to human capital, and the salience of spatial aspects of policy. It stresses the potential for government and administrative failure just as much as market failure. Copyright 2013, Oxford University Press.

Date: 2013
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