Behind the rhetoric of `intervention' and `deregulation' which has accompanied state attempts to stimulate technological innovation in the last decade is secreted a story of failed ambitions, confusion, muddle and incoherence. Techno-industrial innovation does make demands on the state, not only in terms of new industries, but also in regard to the inter-relation of industrial and R&D policy and the creation of markets. This book provides a comparative analysis of techno-industrial innovation in Europe, Japan and the USA. Drawing on case studies ranging from the semi-conductor to the biotechnology industries, the book presents a comprehensive and detailed survey of national strategies for the internal and world markets and sets them in their political context, where `the costs may be high and the pay-offs uncertain'.

The U.S. government is pursuing a series of new industrial policies at a level not seen before. This effort has been driven politically on a bipartisan basis by concern over China's extensive industrial policy system. Growing concern about climate change has also been a major driver for these new policies as has the Covid-19 pandemic. Industrial Innovation Policy in the United States places these new policy approaches into an historical context, particularly emphasizing industrial policy approaches to the innovation system. It then reviews the definitional and economic debates over industrial policy. Next, it catalogs and summarizes the main thrusts of new U.S. industrial policy efforts and describes the major elements, as well as gaps in these approaches. In particular, it notes the critical gap in the U.S. for scale-up funding for moving new technologies into production as compared to China. The author also notes the types of industrial innovation policies, characterizing "top down" and "bottom up" approaches. Finally, the monograph reviews the new mechanisms and supporting infrastructure needed to make industrial policy approaches operational.

The worst economic crisis since the Great Depression has generated a fundamental re-evaluation of the free-market policies that have dominated American politics for three decades. State of Innovation brings together critical essays looking at the 'innovation industry' in the context of the current crisis. The book shows how government programs and policies have underpinned technological innovation in the US economy over the last four decades, despite the strength of 'free market' political rhetoric. The contributors provide new insights into where innovations come from and how governments can support a dynamic innovation economy as the US recovers from a profound economic crisis. State of Innovation outlines a 21st century policy paradigm that will foster cutting-edge innovation which remains accountable to the public.