Industrial policy is back at the centre stage of policy debate, while the world is undergoing dramatic transformations. This article contributes to the debate by developing a new theory of industrial policy, incorporating some issues that have been neglected so far and taking into account the recent changes in economic reality. The authors explore how the incorporation of some of the neglected issues — commitments under uncertainty, learning in production, macroeconomic management (especially demand management), and conflict management — changes the theory. They then examine how the theory of industrial policy should be modified in light of recent changes in economic reality: the rise of the global value chain, financialization and new imperialism. This contribution aims at promoting a pragmatic approach to industrial policy and pointing to new areas for policy intervention in a changing world.

中文翻译：

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21世纪的产业政策

产业政策重新回到政策辩论的中心舞台，而世界正在经历戏剧性的转变。本文通过发展一种新的产业政策理论，纳入一些迄今为止被忽视的问题并考虑到经济现实的近期变化，为辩论做出了贡献。作者探讨了一些被忽视的问题——不确定性下的承诺、生产中的学习、宏观经济管理（尤其是需求管理）和冲突管理——如何改变理论。然后，他们研究了应如何根据经济现实的近期变化来修改产业政策理论：全球价值链的兴起、金融化和新帝国主义。