## Law & Politics 

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[![industrial plants](/sites/cato.org/files/styles/content_teaser/public/2025-06/GettyImages-2155877725.jpg?itok=EEcrJ1N0)](https://www.cato.org/restoring-free-enterprise/friendfunding-industrial-policy) 

Publications 

### [“Friendfunding” Industrial Policy](/restoring-free-enterprise/friendfunding-industrial-policy) 

By Haeyoon Kim and [Simon Lester](https://www.cato.org/people/simon-lester) 

The Trump administration’s “friendfunding” approach uses tariff threats to steer allied money to US-controlled projects, promising an uncertain investment payoff while concentrating power in the executive branch and straining US alliances, particularly those with Japan and South Korea.

[![Government Spending](/sites/cato.org/files/styles/content_teaser/public/2024-12/government-spending%20Cropped.jpg?itok=HkW5WNLc)](https://www.cato.org/restoring-free-enterprise/defense-production-act) 

Publications 

### [The Defense Production Act](/restoring-free-enterprise/defense-production-act) 

By [Colin Grabow](https://www.cato.org/people/colin-grabow) 

Created to mobilize American industry for war, the Defense Production Act has become a general-purpose tool of presidential economic intervention, allowing administrations of both parties to subsidize favored industries under an ever-expanding definition of national defense.

##### Coming Soon 

**U.S. Challenges to State Owned Enterprises Around the World**

By Scott Lincicome

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**Why Government Ownership is Not the Answer**

By Tad DeHaven

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**The Corruption of Free Enterprise**

By Matthew D. Mitchell

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**Executive Equity: Legal and Constitutional Issues**

By Molly Nixon & Kimberly Coleman

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**Silicon Valley’s Slouch Toward Control by Washington**

By Adam Thierer

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**Arsenal of Equity: The Pentagon’s Misguided Turn to Corporate Ownership**

By Tad DeHaven & Colin Grabow

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**Global Trade Rules for State Owned Enterprises**

By James Bacchus

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