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In the U.S. Senate, there was a recent sight to behold: bipartisanship in service of the national economic interest. All but 11 Republicans in the upper house joined Democrats in advancing the Endless Frontiers Act, which would significantly increase federal spending on R&D. But this isn’t the first time that Republicans have seemed to buck conservative orthodoxy on industrial policy.
In a representative example, Sen. Marco Rubio
But this new paradigm will not bring with it partisan consensus on the economy. Instead, industrial policy will be a new landscape for an old battle: What is economic policy for? As in the past, Republicans will try to use it to protect the stature of established firms and industries. Democrats will look to protect the well-being of workers, while creating the conditions for the firms and industries of the future. From economic theory up to overall vision, competing versions of industrial policy will manifest this longstanding partisan con