The new interventionism

Business and the state

Governments’ widespread new fondness for interventionism

After a long liberalising era, the state has bounced back. That is not a good thing, argues Jan Piotrowski

The new industrial policy

Many countries are seeing a revival of industrial policy

A previously discredited approach has found new believers

Competition policy

The growing demand for more vigorous antitrust action

Greater concentration of market power is leading to a trustbusting revival

Government regulation

Enthusiasm for regulation, often in areas like the climate, shows no sign of flagging

Red tape continues to spread inexorably

Corporate taxes

The long trend of falling corporate taxes is being reversed

After falling for decades, taxes on companies are rising again

The future

However justified, more government intervention risks being counterproductive

It is time to reassert the case for less state intrusion

Sources and acknowledgments