An industrial strategy for Britain: the nature and role of planning

Abstract

It is argued that Britain has reached a turning point in its industrial history and that a sharp change in the way industrial policy is approached is now necessary. A primarily regulatory role for the state has to be transformed into a primarily developmental one. The market will continue as a crucial part of the system, but it will work within long-term parameters set by government. A system rather similar to the Japanese approach is advocated, but a straight transplant is seen to be infeasible and undesirable. Issues of democratic control and the power of the transnationals receive particular attention.