American commercial shipbuilding is in a wretched state. Plagued by high costs and inefficiencies, there is little appetite for the industry’s offerings beyond a diminutive, captive domestic market. Taking note of the industry’s decline, Jerry Hendrix recommends an ambitious agenda of government‐funded shipyard construction and subsidies to restore U.S. shipbuilding to its former glory. But we should be skeptical of the rationale for such industrial policy and of its potential to elevate the United States above shipbuilding mediocrity. Doubling down on policies that have not succeeded in the past would be unwise.
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- United States of America
