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Former Commerce Secretary Gina Raimondo discusses implementing the CHIPS Act, bringing semiconductor manufacturing back to America, and why industrial policy is making a comeback after decades of free-market orthodoxy.
This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.
Highlights
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The CHIPS Act represents the end of a 40-year consensus that government should not pick winners in industry
Raimondo argues that the CHIPS Act marks a fundamental shift: the U.S. government is explicitly directing capital to a specific industry because the free market failed to maintain domestic semiconductor capacity.•
National security and economic policy are converging — the separation was always artificial
Raimondo argues that the 20th-century separation of economic policy (maximize efficiency) from national security policy (maximize military readiness) was a luxury of unipolarity that no longer holds.Was this useful?