ABSTRACT
The price system is the industrial policy of capitalism, state planning of socialism, and some of each of the mixed economy. This chapter outlines the objectives, and the instruments proposed to achieve them, of a spectrum of existing and proposed industrial policies. It discusses the political cultures found in American life. The preferences of the people organized into each culture lead to choices of different and opposed industrial policies. The policies the people prefer depend on how they see their way of life affected by opposing cultures. Cultural context is controlling. To show how context alters policy positions, the chapter analyzes in the selected industrial policies from the early American republic. The chapter relates industrial policies to contemporary cultural change in the United States. It reconsiders, on the basis of the checkered history of industrial policies, concepts of political change.
