Beyond Industrial Policy: New Growth for Europe

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Industrial policy has become a BeyondIndustrialStrategymajor buzzword in European economic policy debates but as it stands the term means too many different things to too many people. It is also a misnomer for what Europe truly needs: a new growth strategy that redefines the role of the state in the economy, allows Europe to tackle the challenges of globalization, automation and digitalisation and, at the same time, appreciates the fact that some close economic partners increasingly question the norms of fair competition. This policy paper develops principles on which such a strategy should build and makes concrete recommendations what policies should be part of it.