European industrial policy from 2000 to 2020

The chapter seeks to address an important question in the field of industrial policy starting from a prologue. In fact, since the beginning of the twenty-first century, there have been many changes globally in the sphere of this public policy, and the European Union (EU) has seen its fair share of these changes in terms of both the theory and practice in this important area of public policy. Can we perhaps go so far as to call this moment a "time of coinciding" to highlight the fact that both the theoretical and practical aspects have taken great steps forward? In so doing, the chapter will examine data on manufacturing value added (MVA), as well as other microeconomic evidence, and the analysis will be completed by presenting some of the primary data on knowledge-based investments (e.g., R&D). The image of the EU that emerges is one of light and shadows, and this provides the starting point for the crucial step: Does manufacturing Europe need an industrial policy? If so, what kind? The answer is affirmative. After briefly reviewing the theoretical fundamentals of the "new" industrial policy, the chapter will shed light on the actions carried out by the European Commission of Brussels from 2000 (Lisbon Strategy) to 2020 (Commission Communication unveiled in March), without forgetting a reference to the NextGenerationEU.