The temptation to pursue an industrial policy hangs over Switzerland. Yet recent economic history, from the watchmaking industry to the Lucens nuclear reactor fiasco, shows that state intervention weakens rather than strengthens the national economy.
State support for business is on the rise worldwide, whether through subsidies or trade barriers. The justifications for such policies range from security of supply to the preservation of strategic industries.
For the time being, Switzerland generally refrains from subsidizing its economy. However, the question of more active state support for key industries regularly comes up in public debate. Should the promise of a strong national industry lead to a change in Swiss doctrine? A glance at recent economic history should chill the thurifers of interventionism.
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