There isn't "a market". There are thousands of separate markets.I am fatigued to endlessly hear about "the market." Our actual markets have a lot of information problems, and even deliberately created plain lies. Time scale is critical, and it is neglected. Considering time gets you past the hype cycle, finds early adopters and carries you to long term products. We need that in durable goods and climate. For the latest social media phenomenon, short time cycles don't matter.
Sounds like you're living in the wrong country. Being very familiar with PDX, you're living in a city/region with very skewed priorities that limits success.Germany, Taiwan, China, Japan, and Singapore have long term industrial policy. They are all based on some form of high employment, exports, exports of high labor content goods, dominant market positions in segments, minimizing imports, and moving people from lower income to higher income.
How does the US industrial policy concentrate wealth?The US industrial policy is to further financial markets to concentrate wealth, export low labor content agricultural products, import everything, protect the export film industry as best as possible with infinite copying, and everything military.
ARPA defined some protocols that were useful in creating the internet. What were NASA's epic successes?Despite that, the us has had some epic successes in directing research through ARPA, and earlier NASA. Both created early adopter markets that became mass markets, or will become mass markets. Today there are small handfuls of corporate research labs.
If what you're saying is correct, there would be almost no room for start-up companies in the US. As for big companies, we've always faced countries with cultures that supposedly take the longer view. Japan is legendary for that, and it doesn't seem to have served them well. Japan has been trumped by the US, Korea, China, and India, to name a few.That is because the American financial system is focused on quarter to quarter results. If the company is dead in 5 years, it doesn't matter in or system. We are facing competitors with less focus on quarterly profits and more focus on market share for the long run.
Our energy policy is a mess, mostly because we refuse to make the creation of new infrastructure efficient, and because we tell ourselves fairy tales about the utopia we would have if only we were net-zero.The long term matters for energy investments. The bills have to pass through congress, and in particular Joe Manchin, chair of the Energy Committee, so they are filled with compromises. We are moving toward lifecycle carbon accounting and labeling to give decision consumers more information. In the US, there is enough money in energy to choose a policy and build it. The grid and generator engineers know how to do it. It is going to roll out state by state for political and corruption reasons.
On this point we agree, the US education system should have a far greater emphasis on science and math.I would also say the market cannot overcome a lack of leadership intelligence, and voter intelligence and understanding. Many of the countries with industrial policies, successful industrial policies, have engineers as political leaders, not attorneys, athletes, exterminators, and other sad examples. They all have a focus on K-12 excellence and STEM.