Editing Industrial policy (section)

== Criticism ==
{{POV section|date=May 2023|talk=POV}} 
Some criticize industrial policy based on the concept of [[government failure]]. Industrial policy is seen as harmful as governments lack the required information, capabilities, and incentives to successfully determine whether the benefits of promoting certain sectors above others exceeds the costs and in turn implement the policies.<ref>See for instance, regarding the medias industries: Violaine Hacker, « Citoyenneté culturelle et politique européenne des médias : entre compétitivité et promotion des valeurs », Nations, Cultures et Entreprises en Europe, sous la direction de Gilles Rouet, Collection Local et Global, L’Harmattan, Paris, pp. 163–84</ref> While the [[East Asian Tigers]] provided successful examples of [[heterodox]] interventions and [[protectionist]] industrial policies,{{sfn|Amsden|1992}} industrial policies such as import-substitution-industrialization ([[Import substitution industrialization|ISI]]) have failed in many other regions such as Latin America and Sub-Saharan Africa. Governments, in making decisions with regard to electoral or personal incentives, can be captured by vested interests, leading to industrial policies supporting local [[rent-seeking]] political elites while distorting the efficient allocation of resources by market forces.{{sfn|Pack|Saggi|2006}}