Mario Pianta (Scuola Normale Superiore, Firenze)

The objectives of developing high-knowledge economic activities, expanding industry, reaching environmental sustainability and achieving greater convergence are clearly stated in the Europe 2020 strategy and in the more recent policy documents of the European Union (EU). Such objectives, however, lack a coherent strategy, an appropriate institutional setting and adequate resources for affecting the evolution of Europe’s economies. These challenges can be addressed with the tools that were typical of industrial policy, but with a deeply revised approach. This article examines the main actions in the field of industrial policy currently carried out at the European level. The present and potential space for such initiatives is examined in the light of the growing debate on the need for a return to a greater role for public policies in favouring sustainable growth, supporting private investments and reducing the economic divergence across EU Member States after the outbreak of the 2008 financial crisis. In view of the debate on the new EU budget 2021-2017, a proposal for a new type of industrial policy with the goal of supporting well-defined technological and production activities and assuring greater democracy in economic decision making is outlined.

Speakers: Mario Pianta (Scuola Normale Superiore, Firenze), Antonio Andreoni (SOAS)

Released by: SOAS Economics Podcasts