Abstract
This paper seeks to frame a new economic strategy for the United States while taking into account a range of development-related impediments to the country’s recent macroeconomic performance. It is argued here that three important themes need to come to center stage: (1) a discourse on the “appropriate” development policy action by the federal government, (2) the importance of adopting a long-term perspective, and (3) emphasis on strengthening local production lines. The first section outlines the present context of the United States by discussing economic, socio-cultural, and politico-institutional aspects. Following sections discuss an alternative interventionist development paradigm for the country’s economy, and offer strategic policy recommendations. Some brief conclusions end the paper.
Keywords: Developmental intervention, industrial targeting, the strategic approach, the United States
JEL codes: O, O1, O2, H, H1, B5
