Contributed to the Globe and Mail by Alan Bernstein and Meric Gertler
Published September 5, 2022
Alan Bernstein is president and CEO of the global research organization CIFAR. Meric Gertler is president of the University of Toronto, chair of Universities Canada, and past chair of the U15 Group of Canadian Research Universities.
U.S. President Joe Biden recently signed into law two sweeping bills aimed at enhancing America’s innovative capacity and tackling climate change. These bills represent a striking embrace of activist industrial policy, inspiring The Wall Street Journal to declare “the muscular arm of Washington replaces Adam Smith’s invisible hand….”