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    Common Dreams. To inform. To inspire. To ignite change for the common good.
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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    industrial policy

    Traders work on the floor of the New York Stock Exchange

    'Batsh*t Crazy' Trump Tariffs Should Be Seen as $7,000 Tax Hike on Workers, Says Economist

    Instead of strategically imposing tariffs, Trump has chosen to "give the country the most massive tax increase in its history, possibly exceeding $1 trillion on an annual basis."

    Jessica Corbett
    Apr 03, 2025

    As stocks "nosedived" on Thursday, economists, policymakers, and campaigners around the world continued to warn about the impacts of U.S. President Donald Trump's trade war, which includes a 10% universal tariff for imports and steeper duties—that he claims are "reciprocal"—for dozens of countries, set to take effect over the next week.

    "This is how you sabotage the world's economic engine while claiming to supercharge it," wrote Nigel Green, CEO of the international financial consultancy deVere Group. "Trump is blowing up the post-war system that made the U.S. and the world more prosperous, and he's doing it with reckless confidence."

    Keep ReadingShow Less
    News
    tariffs
    Nurses march carrying signs reading, "Patients first."

    We Need an IRA for Care Work

    The lack of investment in the care sector not only jeopardizes economic growth but also perpetuates a disregard for the significant contributions of care workers—contributions that have gone unnoticed for far too long.

    Alí R. Bustamante
    Aug 18, 2023

    The pandemic spotlighted the indispensable role care workers play in upholding the health, well-being, and economic equilibrium of individuals, families, and communities. Amid widespread care center closures, millions of Americans found themselves devoid of care worker support, leading to a marked decrease in labor force participation, especially among women.

    Next month, Americans may once again experience a critical gap in care services if funding from the American Rescue Plan’s childcare stabilization fund is not renewed. One year after the Inflation Reduction Act’s and CHIPS and Science Act’s extraordinary investments in clean energy and semiconductors, it’s clear that industrial policies work and that the care sector is in dire need of investment.

    Keep ReadingShow Less
    Opinion
    care economy
    Industrial Policy Is Not a Remedy for Income Inequality

    Industrial Policy Is Not a Remedy for Income Inequality

    We have to recognize that the upward redistribution of the last four decades was not something that just happened, it was the outcome of deliberate policy choices.

    Dean Baker
    Dec 26, 2022

    The idea of industrial policy has taken on almost a mystical quality for many progressives. The idea is that it is somehow new and different from what we had been doing, and if we had been doing industrial policy for the last half-century, everything would be better.

    This has led to widespread applause on the left for aspects of President Biden’s agenda that can be considered industrial policy, like the CHIPS Act, the Inflation Reduction Act (IRA), and the infrastructure package approved last year. While these bills have considerable merit, they miss the boat in reducing income inequality in important ways.

    Keep ReadingShow Less
    Opinion
    inequality

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