Michael Pettis's Unpersuasive Case for Industry Subsidies
In a Wall Street Journal article titled “Are Domestic Manufacturing Jobs Worth Protecting?” (May 1, 2025 print), Michael Pettis answers yes, if the reason is that the job loss has come about, not due to increases in productivity but due to other countries’ governments subsidies to manufacturing.
What does Pettis think is the reason that those governments…
