Remember Solyndra? Apparently too few do. Today’s WSJ reports how the U.S. is imitating China’s “industrial policy” of subsidizing favored firms in favored industries such as green energy and semiconductors. To remind us that Larry Summers was right when he wrote that “government is a crappy venture capitalist,” I link above to Jon Stewart’s wise and funny send-up of the Solyndra debacle, first broadcast almost 10 years ago, on September 15, 2011.
The WSJ article mentioned above, is:
Ip, Greg. “West Dusts Off an Old Idea to Compete with China.” The Wall Street Journal (Fri., July 30, 2021): A1 & A7.