The US thought it was "stupid" to let shipbuilding jobs leave the US, leading to the Jones Act. This hurt just about every other domestic industry, consumers, and caused the American shipbuilding industry to deteriorate even more.
If the Jones Act had worked it would have looked genius because it didn't require spending money by the government. It didn't work though.
So far the only effective method has been to purchase a fixed amount of the final desired product regardless of actual demand.
Outside of shipping idk what the analogous situation would be