How Financialization Can Complement Reindustrialization (opens in new tab)

To harness the urgency for strategic industrial investment into a self-sustaining force, public financing infrastructure must be built that enables deployment of private capital toward strategic objectives. The conventional debate frames financialization and industrialization as antagonists; in fact, the former can enable the latter. The public sector’s critical role is not as a substitute for markets but as a coordinator of market infrastructure and a backstop for financial risk that the pri...