The following questions are based on the commentaries by Edoardo Campanella and Michael Spence available on Courseworks. You may also refer to information available online. b) What is industrial policy? What objectives does industrial policy pursue beyond the achievement of (Pareto) efficiency? Is industrial policy becoming a widespread phenomenon or does it affect the U.S. only? Explain. c) Why did COVID and recent geopolitical events make governments and companies aware of the costs of long supply chains