Governing Growth
US Industrial Policy from Hamilton to Trump
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Product details:
- Publisher OUP USA
- Date of Publication 1 August 2026
- ISBN 9780197850336
- Binding Paperback
- No. of pages336 pages
- Size 235x154x23 mm
- Weight 413 g
- Language English 700
Categories
Short description:
In an era marked by international tension and global challenges, governments have responded by increasing their focus on industrial policy to enhance certain economic sectors. While the United States is often seen to be a free-market economy lacking significant government intervention, Governing Growth shows this is not the case. It charts the history of American industrial policy spanning from the Founding Fathers to Donald Trump's current presidency. The book speaks to the importance of understanding burgeoning industrial policy around the world through a historical lens. The book also offers context to Trump's unique approach to trade protection and industrial policy and the likely consequences.
MoreLong description:
In this volume covering the long sweep of US industrial policy, Marco R. Di Tommaso and Vinod K. Aggarwal contextualize the current moment of industrial policy and its possible consequences.
In an era marked by international tension and global challenges, governments have responded by increasing their focus on industrial policy to enhance certain economic sectors. The United States is often seen to be a free-market economy lacking significant government intervention. However, the use of industrial policy in the United States is far from new. The American government has long played an essential role in industrialization from Hamilton's plan for manufacturing to Biden's turn to industrial policy in green industries and semiconductors and to Trump's tariff policies.
In Governing Growth, Marco R. Di Tommaso and Vinod K. Aggarwal chart this history of American industrial policy spanning from the Founding Fathers to Donald Trump's current presidency. They explore the "pre-history" of American industrial policy, tracking how the government balanced industry and societal needs up until the crisis of the 1970s. Pointing to the parallels between Ronald Reagan and Margaret Thatcher, Di Tommaso and Aggarwal identify the pivot to neoliberalism in the 1980s. Even in this climate, they point out that there remained a significant gap between rhetoric promoting free trade and protectionist policies. Finally, they compare the recent presidencies of Obama, Biden, and Trump, exploring how the vastly different backgrounds, approaches, and ideologies of these politicians affected US industrial policy. Di Tommaso and Aggarwal speak to the importance of understanding burgeoning industrial policy around the world through a historical lens, and ultimately the book also offers context to Trump's unique approach to trade protection and industrial policy and the likely consequences.
This majestic account corrects the popular misconception of pervasive private dominance over American economic life. Instead, government policy has massively shaped the national economy for most of the past 250 years. Neoliberal ascendancy during presidencies from Ronald Reagan to George W. Bush has proved to be a short interlude.
Table of Contents:
Preface
Chapter 1: Introduction
Chapter 2: The Beginning: From Independence to the end of the Nineteenth Century
Chapter 3: Wars in the Twentieth Century and the Rise of American Power
Chapter 4: American Global Leadership in the Post WWII Era
Chapter 5: The Paradoxes of Reagan's Time: Rhetoric and Practice
Chapter 6: The 1990s, George H.W. Bush, and Bill Clinton: The US in Command
Chapter 7: George W. Bush: Between September 11 and the Crisis' Outbreak
Chapter 8: Obama: Crisis, the Bailout, and Promoting National Industry
Chapter 9: The Trump Eruption
Chapter 10: The Joe Biden Years
Chapter 11: Trump's Return
Chapter 12: Governing Growth in the United States: Ten Points
