A New Economic Strategy for the USA: A Framework of Alternative Development Notions

This paper seeks to provide a new economic strategy for the United States while considering a range of development-related impediments to the country’s recent economic performance. It is argued here that strategic industrial policy needs to come to the center stage if local production growth, competency upgrading, and competitiveness improvement are to be aggressively pursued. The first section outlines the present context of the US economy by discussing economic and socio-cultural aspects. The second main section frames an alternative development paradigm for the United States. Policy recommendations are discussed in the third section. Some brief conclusions end the paper.