Complex sentence: While the current debate has shifted away from dismissing industrial policies in overall towards assessing the efficacy of specific types of industrial policies, much debate still surrounds the issue whether government failures are more pervasive and severe than market failures.
Split into simpler sentences: While the current debate has shifted away from dismissing industrial policies overall, the best ways of promoting industrial policy are sill widely debated. Much debate also still surrounds the issue whether government failures are more pervasive and severe than market failures.