Buce Reads the Economist on "Picking Winners"

Buce:

Underbelly: I posted about this before but I shouldn't let pass this cool summary from The Economist on the question of when government industrial policy--aka "picking winners"--actually works:

First, the more it is in step with a national or local economy’s comparative advantage, the more likely industrial policy is to succeed. Drives to spur high-tech entrepreneurship in areas of heavy manufacturing, for instance, face a struggle. According to Mr Lin of the World Bank...