Mariana Mazzucato & Lara Merling explain why the World Bank’s belated recognition of the importance of industrial policy is not enough.
Economics
Apr 30, 2026
Mariana Mazzucato
and Lara Merling
By coming out in favor of industrial policy after many decades of advising against government intervention in the economy, the World Bank has taken an important step. But it still has much further to go to translate real-world evidence into better policy advice.
Interventionists who think so should read its new report more closely
The World Bank recently released two important reports. One is Industrial Policy for Development: Approaches in the 21st Century.
We didn’t U-turn. The world changed, writes Indermit Gill, the bank’s chief economist
Mariana Mazzucato proposes a radical change in perspective toward humanity's most precious resource.
The World Bank’s U-turn on industrial policy is significant, but not sufficient, argue Professors Stiglitz and Carvalho
Yuen Yuen Ang explain how governments can pursue national development goals without “picking winners.”
