Joel Dodge
@joeldodge07.bsky.social
Industrial Policy & Economic Security at Vanderbilt Policy Accelerator (https://www.vanderbilt.edu/vanderbilt-policy-accelerator/). Attorney, Policy Advisor, Writer. Views are my own.
Reposted by Joel Dodge
Good post from @joeldodge07.bsky.social running down the reasons for governments to take equity stakes in companies.
vanderbiltpolicyaccelerator.substack.com/p/the-cases-...
vanderbiltpolicyaccelerator.substack.com/p/the-cases-...
The Cases for Government Equity Stakes
Over the last few months, the second Trump administration has embarked upon a spree of deals taking equity stakes in private companies.
vanderbiltpolicyaccelerator.substack.com
November 12, 2025 at 10:27 PM
Good post from @joeldodge07.bsky.social running down the reasons for governments to take equity stakes in companies.
vanderbiltpolicyaccelerator.substack.com/p/the-cases-...
vanderbiltpolicyaccelerator.substack.com/p/the-cases-...
Great piece on how Trump’s R&D austerity and privatization moves amount to negative industrial policy.
I have a new essay in Bloomberg Weekend about how important government science is to advanced tech like SpaceX's Starship, and what we can expect from big cuts to government R&D:
www.bloomberg.com/news/article...
www.bloomberg.com/news/article...
What Happens When the US Stops Funding the Science Behind SpaceX?
NASA’s shrinking budget threatens the public science behind SpaceX’s success, and it could weaken America’s ability to develop breakthrough technologies.
www.bloomberg.com
October 27, 2025 at 9:07 PM
Great piece on how Trump’s R&D austerity and privatization moves amount to negative industrial policy.
Last week, Jamie Dimon announced JPMorganChase was creating a Trump-aligned $1.5 trillion industrial policy fund.
In a new post for Vanderbilt Policy Accelerator's Substack, I explain the perils of this kind of privatized industrial policy.
vanderbiltpolicyaccelerator.substack.com/p/the-perils...
In a new post for Vanderbilt Policy Accelerator's Substack, I explain the perils of this kind of privatized industrial policy.
vanderbiltpolicyaccelerator.substack.com/p/the-perils...
October 23, 2025 at 2:50 PM
Last week, Jamie Dimon announced JPMorganChase was creating a Trump-aligned $1.5 trillion industrial policy fund.
In a new post for Vanderbilt Policy Accelerator's Substack, I explain the perils of this kind of privatized industrial policy.
vanderbiltpolicyaccelerator.substack.com/p/the-perils...
In a new post for Vanderbilt Policy Accelerator's Substack, I explain the perils of this kind of privatized industrial policy.
vanderbiltpolicyaccelerator.substack.com/p/the-perils...
Reposted by Joel Dodge
From me in @lpeblog.bsky.social today:
The lesson of the US investment in Intel is "public capital without accountability. The result is not sovereign wealth but corporate capture—an arrangement that entrenches incumbent power while eroding the state’s ability to direct economic development."
The lesson of the US investment in Intel is "public capital without accountability. The result is not sovereign wealth but corporate capture—an arrangement that entrenches incumbent power while eroding the state’s ability to direct economic development."
Today, @jamesftierney.bsky.social argues that the government's recent $8.9 billion equity investment in Intel represents a new model of American state capitalism: one that entrenches corporate power while foreclosing more democratic and effective alternatives.
Intel and the New State Capitalism
While some have cast the U.S. government’s $8.9 billion equity stake in Intel as the first step on the road to socialism, upon closer examination it looks more like a distinctive form of American…
lpeproject.org
October 20, 2025 at 6:31 PM
From me in @lpeblog.bsky.social today:
The lesson of the US investment in Intel is "public capital without accountability. The result is not sovereign wealth but corporate capture—an arrangement that entrenches incumbent power while eroding the state’s ability to direct economic development."
The lesson of the US investment in Intel is "public capital without accountability. The result is not sovereign wealth but corporate capture—an arrangement that entrenches incumbent power while eroding the state’s ability to direct economic development."
Reposted by Joel Dodge
I talked to the Vanderbilt Policy Accelerator’s Joel Dodge about Trump’s unique brand of authoritarian-flavored industrial policy for this week’s @washingtonmonthly.com roundup:
open.substack.com/pub/washingt...
open.substack.com/pub/washingt...
L'etat, c'est Trump
Trump's version of "state capitalism" is just another facet of his self-dealing authoritarianism. It may enrich his family but will beggar the economy.
open.substack.com
September 20, 2025 at 4:38 PM
I talked to the Vanderbilt Policy Accelerator’s Joel Dodge about Trump’s unique brand of authoritarian-flavored industrial policy for this week’s @washingtonmonthly.com roundup:
open.substack.com/pub/washingt...
open.substack.com/pub/washingt...
Reposted by Joel Dodge
10/ The transition will happen with or without US participation. By withdrawing from these industries and blocking allies from Chinese partnerships, America risks becoming a bystander to the biggest economic transformation of our time.
September 12, 2025 at 2:22 AM
10/ The transition will happen with or without US participation. By withdrawing from these industries and blocking allies from Chinese partnerships, America risks becoming a bystander to the biggest economic transformation of our time.
The Green Marshall Plan is happening. It’s just being led by China.
2/ Chinese firms have committed $227+ billion across 461 green manufacturing projects in 54 countries since 2011 - with 88% of investment occurring just since 2022. This dwarfs the $200 billion Marshall Plan (in today's dollars).
September 15, 2025 at 2:44 PM
The Green Marshall Plan is happening. It’s just being led by China.
Reposted by Joel Dodge
The president uses government leverage to extract equity stakes, profit-sharing deals, and special voting rights from major corporations. These are familiar tools—but Trump’s unchecked dealmaking could be disastrous.
washingtonmonthly.com/2025/09/03/t...
washingtonmonthly.com/2025/09/03/t...
Trump’s Industrial Policy: What’s Right and Wrong
Trump’s industrial policy includes equity stakes, profit-sharing, and golden shares in major corporations. The outcome could be disastrous.
washingtonmonthly.com
September 3, 2025 at 12:41 PM
The president uses government leverage to extract equity stakes, profit-sharing deals, and special voting rights from major corporations. These are familiar tools—but Trump’s unchecked dealmaking could be disastrous.
washingtonmonthly.com/2025/09/03/t...
washingtonmonthly.com/2025/09/03/t...
Reposted by Joel Dodge
Industrial policies like public ownership of corporate equity are powerful means of aligning corporate actions with gov priorities—but they can thus also become tools for consolidating authoritarian power. Rather than rejecting policies outright, we need better discussions on democratic guardrails
The president uses government leverage to extract equity stakes, profit-sharing deals, and special voting rights from major corporations. These are familiar tools—but Trump’s unchecked dealmaking could be disastrous.
washingtonmonthly.com/2025/09/03/t...
washingtonmonthly.com/2025/09/03/t...
Trump’s Industrial Policy: What’s Right and Wrong
Trump’s industrial policy includes equity stakes, profit-sharing, and golden shares in major corporations. The outcome could be disastrous.
washingtonmonthly.com
September 3, 2025 at 6:31 PM
Industrial policies like public ownership of corporate equity are powerful means of aligning corporate actions with gov priorities—but they can thus also become tools for consolidating authoritarian power. Rather than rejecting policies outright, we need better discussions on democratic guardrails
I did a deep dive for the @washingtonmonthly.com taking stock of the emerging Trump II industrial policy and where it might be headed. Link below: 🧵1/8
September 4, 2025 at 12:51 AM
I did a deep dive for the @washingtonmonthly.com taking stock of the emerging Trump II industrial policy and where it might be headed. Link below: 🧵1/8
This theory from @ryanlcooper.com is perhaps the only sensible explanation for the US whipsawing from green industrial policy to brown industrial policy.
prospect.org/environment/...
prospect.org/environment/...
Is the Republican Party a Chinese Communist Conspiracy?
The Senate GOP just voted to destroy the economies of their own districts and hand 21st century industry to a foreign adversary.
prospect.org
July 2, 2025 at 5:50 PM
This theory from @ryanlcooper.com is perhaps the only sensible explanation for the US whipsawing from green industrial policy to brown industrial policy.
prospect.org/environment/...
prospect.org/environment/...
Reposted by Joel Dodge
The industrial policy see-saw: One party tries to use it to reduce carbon emissions, the other party switches to a version that increases them.
NEW: A tax on solar and wind projects in the Senate mega-bill could "indefinitely undermine renewables development in America," reports @jael.bsky.social.
Full story below, feat. @andrewreagan.bsky.social of @ceforamerica.org and @jessedjenkins.com.
Full story below, feat. @andrewreagan.bsky.social of @ceforamerica.org and @jessedjenkins.com.
How the Senate GOP’s New Tax on Renewables Could ‘Kill’ the Industry
As bad as previous drafts of the reconciliation bill have been, this one is worse.
heatmap.news
June 29, 2025 at 4:38 PM
The industrial policy see-saw: One party tries to use it to reduce carbon emissions, the other party switches to a version that increases them.
👀 “The deal will also give the U.S. government a “golden share” in the company, a rarely used practice through which the government takes a stake in company.”
www.nytimes.com/2025/06/13/b...
www.nytimes.com/2025/06/13/b...
U.S. Steel and Nippon Steel Say Their ‘Partnership’ Is Sealed
www.nytimes.com
June 14, 2025 at 1:38 AM
👀 “The deal will also give the U.S. government a “golden share” in the company, a rarely used practice through which the government takes a stake in company.”
www.nytimes.com/2025/06/13/b...
www.nytimes.com/2025/06/13/b...
The IRA’s vulnerability in a nutshell:
“Until we see somebody get hired, until somebody goes to Kroger’s and tells their friend in the produce section, ‘Hey, I just got a job there,’ it’s not real yet”
www.nytimes.com/2025/06/07/c...
“Until we see somebody get hired, until somebody goes to Kroger’s and tells their friend in the produce section, ‘Hey, I just got a job there,’ it’s not real yet”
www.nytimes.com/2025/06/07/c...
In Georgia, Republicans Vote to Kill Green Jobs but Face Little Fallout
www.nytimes.com
June 9, 2025 at 12:10 AM
The IRA’s vulnerability in a nutshell:
“Until we see somebody get hired, until somebody goes to Kroger’s and tells their friend in the produce section, ‘Hey, I just got a job there,’ it’s not real yet”
www.nytimes.com/2025/06/07/c...
“Until we see somebody get hired, until somebody goes to Kroger’s and tells their friend in the produce section, ‘Hey, I just got a job there,’ it’s not real yet”
www.nytimes.com/2025/06/07/c...
Reposted by Joel Dodge
I suspect this is true and if so it is just an epically, fatefully, cosmically awful decision that will condemn this country to long-term decline.
Best thing I've read on the "Why?" of this comes from @politico.com this week. Basically, China's already way ahead on battery power/EVs so we're just gonna double-down on oil and gas, because that's what we do, and fuck it: www.politico.com/news/2025/05...
China's head start on clean energy is shaping the debate on the Republicans' megabill
Efforts to preserve Biden-era tax breaks for green technology are running into an administration focused on fossil fuels — and unwilling to play on what it sees as Beijing's turf.
www.politico.com
May 22, 2025 at 7:42 PM
I suspect this is true and if so it is just an epically, fatefully, cosmically awful decision that will condemn this country to long-term decline.
Reposted by Joel Dodge
Excited to share that my new paper, The Federal Reserve’s Forgotten Credit Mandate, was just published in Harvard Law Review! 🚨It argues that we are misinterpreting the Fed’s statutory mandate. 1/22
The Federal Reserve's Forgotten Credit Mandate
<p>Today, many policymakers, academics, and commentators claim that the Federal Reserve has a "dual mandate" to pursue stable prices and <span>ma
papers.ssrn.com
May 14, 2025 at 7:53 PM
Excited to share that my new paper, The Federal Reserve’s Forgotten Credit Mandate, was just published in Harvard Law Review! 🚨It argues that we are misinterpreting the Fed’s statutory mandate. 1/22
"[P]ost-neoliberalism was a healthy correction to an economic system that was often too deferential to markets & too inattentive to the realities of politics. Abandoning it over its failures would be easy; the challenge is to find a way to build on its successes."
💯 by Roge Karma @theatlantic.com
💯 by Roge Karma @theatlantic.com
The Debate That Will Determine How Democrats Govern Next Time
Did the party lose in 2024 despite Joe Biden’s economic approach, or because of it?
www.theatlantic.com
May 14, 2025 at 1:50 PM
"[P]ost-neoliberalism was a healthy correction to an economic system that was often too deferential to markets & too inattentive to the realities of politics. Abandoning it over its failures would be easy; the challenge is to find a way to build on its successes."
💯 by Roge Karma @theatlantic.com
💯 by Roge Karma @theatlantic.com
“While a temporary reprieve from the shockingly high tariffs is cause for celebration for businesses in both countries, the repercussions will linger. Businesses will likely encounter a flood of pent-up demand, leading to soaring transport prices”
www.nytimes.com/2025/05/12/b...
www.nytimes.com/2025/05/12/b...
U.S. and China Agree to Temporarily Slash Tariffs in Bid to Defuse Trade War
www.nytimes.com
May 12, 2025 at 11:53 AM
“While a temporary reprieve from the shockingly high tariffs is cause for celebration for businesses in both countries, the repercussions will linger. Businesses will likely encounter a flood of pent-up demand, leading to soaring transport prices”
www.nytimes.com/2025/05/12/b...
www.nytimes.com/2025/05/12/b...
My piece in @thehill.com:
🐓Egg companies are using avian flu as an excuse to bilk consumers
💰Those companies are making record profits
🫴And they’re getting taxpayer-funded USDA bailouts
The government should outlaw price-gouging by companies getting public subsidies
thehill.com/opinion/camp...
🐓Egg companies are using avian flu as an excuse to bilk consumers
💰Those companies are making record profits
🫴And they’re getting taxpayer-funded USDA bailouts
The government should outlaw price-gouging by companies getting public subsidies
thehill.com/opinion/camp...
thehill.com
May 1, 2025 at 2:03 PM
My piece in @thehill.com:
🐓Egg companies are using avian flu as an excuse to bilk consumers
💰Those companies are making record profits
🫴And they’re getting taxpayer-funded USDA bailouts
The government should outlaw price-gouging by companies getting public subsidies
thehill.com/opinion/camp...
🐓Egg companies are using avian flu as an excuse to bilk consumers
💰Those companies are making record profits
🫴And they’re getting taxpayer-funded USDA bailouts
The government should outlaw price-gouging by companies getting public subsidies
thehill.com/opinion/camp...
Great idea from @costasamaras.com @rooseveltinstitute.org for a "Federal Reserve for tracking decarbonization" to "analyze how well the economy is making progress toward decarbonization outcomes, identify risks to that progress & make plans to course correct."
rooseveltinstitute.org/blog/buildin...
rooseveltinstitute.org/blog/buildin...
Building a World Without Carbon Requires Megaproject Thinking - Roosevelt Institute
One of the biggest mistakes we can make in the current moment is to assume climate change is only an environmental problem—one that we will address at some time in the future. Climate change is an eve...
rooseveltinstitute.org
April 30, 2025 at 5:56 PM
Great idea from @costasamaras.com @rooseveltinstitute.org for a "Federal Reserve for tracking decarbonization" to "analyze how well the economy is making progress toward decarbonization outcomes, identify risks to that progress & make plans to course correct."
rooseveltinstitute.org/blog/buildin...
rooseveltinstitute.org/blog/buildin...
Reposted by Joel Dodge
This is an interesting defense of "everything-bagel liberalism" from @joeldodge07.bsky.social. Attaching conditions to public funding has worked for the CHIPS act; whereas public funding without conditions is simply corporate welfare with little democratic legitimacy.
In Defense of Everything-Bagel Liberalism | Washington Monthly
Critics warned that the Biden administration put so many conditions on the grants it offered to semiconductor manufacturers that the centerpiece of its industrial policy would fail. Those conditions t...
washingtonmonthly.com
April 24, 2025 at 4:03 PM
This is an interesting defense of "everything-bagel liberalism" from @joeldodge07.bsky.social. Attaching conditions to public funding has worked for the CHIPS act; whereas public funding without conditions is simply corporate welfare with little democratic legitimacy.
Really excited to dive into the new @c-hughes.bsky.social book
April 24, 2025 at 6:18 PM
Really excited to dive into the new @c-hughes.bsky.social book
Wherein I take to the pages of the @washingtonmonthly.com to defend the honor of Everything-Bagel Liberalism
washingtonmonthly.com/2025/04/24/i...
washingtonmonthly.com/2025/04/24/i...
April 24, 2025 at 1:35 PM
Wherein I take to the pages of the @washingtonmonthly.com to defend the honor of Everything-Bagel Liberalism
washingtonmonthly.com/2025/04/24/i...
washingtonmonthly.com/2025/04/24/i...
Reposted by Joel Dodge
Excellent essay by @joeldodge07.bsky.social. "Everything bagel liberalism" might be a useful critique in theory but the examples critics have relied on (like childcare in CHIPS) are super weak. The firms got a good deal and the public got basic protections. washingtonmonthly.com/2025/04/24/i...
In Defense of Everything-Bagel Liberalism | Washington Monthly
Critics warned that the Biden administration put so many conditions on the grants it offered to semiconductor manufacturers that the centerpiece of its industrial policy would fail. Those conditions t...
washingtonmonthly.com
April 24, 2025 at 1:30 PM
Excellent essay by @joeldodge07.bsky.social. "Everything bagel liberalism" might be a useful critique in theory but the examples critics have relied on (like childcare in CHIPS) are super weak. The firms got a good deal and the public got basic protections. washingtonmonthly.com/2025/04/24/i...
China’s trade war aces (via @gideonrachman.bsky.social) www.ft.com/content/2112...
April 14, 2025 at 1:43 PM
China’s trade war aces (via @gideonrachman.bsky.social) www.ft.com/content/2112...