No industry, no future?

Summary In a context of low growth, high unemployment, unbalanced public finances and a persistent external challenge, we are seeing the return of a proactive discourse on industrial policy and even, in France, of direct intervention in industry. Thus, targeted public intervention by sector is once again conceivable, while industry is once again seen as a reservoir of jobs, exports and growth. No industry, no future? This Note does not consider the answer to be obvious. A reflection seems essential at the same time on the object of the industrial policy (what is the industry and in what is it necessary?) but also on its methods (does the State have the tools, the information and the modus operandi of its intervention?) The frontier between industry and services has become blurred: services have become an industry . industry buys and sells services . finally, a part of the companies classified in services are in reality industrial companies having split their value chain at the international level. Industrial activity today consists of designing products, ensuring or transferring their production while retaining intellectual property rights, organizing the value chain, controlling brands and access to consumers, and finally appropriating returns on investment.