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This paper is purposed to draw the justifications and the future forms of industrial policy through examination of various economic theories and the experiences of the european countries and the EU. Our findings are as follows. First, a variety of economic theories support not only the horizontal policies but also the selectivity in devising an effective industrial policy. Secondly the evolution of the european countries' industrial policy reveals that the states' concerns over the industrial competitiveness never weakened but the measures changed with the evolution of their industries' situation. Thirdly EU's new industrial policy represents a bud of the future's industrial policy: "to examine closely each particular sector and adopt every measures to increase the industrial competitiveness". Industrial policy is not to be abandoned, but every measures should be searched in order to solve the posed problems in each sector.