Reindustrialization should be pursued primarily as a security and supply‑chain resilience project, not as a route back to mass factory employment; the practical bottlenecks are land‑use/permitting and concentrated bank finance. Because automation will limit traditional blue‑collar openings, policy should focus on unlocking sites and patient industrial capital while planning for local multiplier jobs around high‑automation plants.
— This reframes industrial policy debate from nostalgia about factory jobs to concrete institutional fixes (permitting and finance) with implications for defense, regional development, and bank regulation.
Noah Smith
2026.11.13
100% relevant
Noah Smith and Brad DeLong explicitly argue geopolitics/security is the main driver, name land use and bank loans as the two missing pieces, and propose using megabanks and selective Dodd‑Frank exemptions as a financing lever.
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