Policymaking, or conscious shaping of the future, presupposes both intuition and science. Given the magnitude of rapidly increasing change, industrialized nations must fashion policies to enable them to shape the development of the changing structure. The contributors to this volume examine the pros and cons of industrial policies in free-market economies.
What kind of industrial policy should market economies actively pursue under the pressure of accelerating change in order to strengthen the market mechanism without ignoring social welfare goals? Are realistic policies possible in market societies? What are the goals and limits to such policy? What currents of thought influence and inspire new approaches? What are the results of policymaking bodies in a comparative international context? The question of the feasibility of guided industrial programs in capitalist contexts has been widely debated. Professor Gemper and his associates argue strongly in the affirmative.