* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, May 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

    Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

    Georgia Entertainment CEO says large-scale production is slowing down – Decaturish

    Georgia Entertainment CEO Warns of Slowdown in Large-Scale Productions

    Zugalu Entertainment Welcomes Crimson Herring Studios to Its Family!

    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Harnessing emerging technologies to power a small business – The Oaklandside

    Unlocking Success: How Emerging Technologies Can Transform Your Small Business

    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Technology Innovation to Take Center Stage at The 2025 National Restaurant Association Show – Restaurant Technology News

    Get Ready for a Tech Revolution: The 2025 National Restaurant Association Show Unveils Cutting-Edge Innovations!

    Newmont signs deal to use Chrysos Corporation technology – Capital Brief

    Newmont Partners with Chrysos Corporation to Revolutionize Mining Technology

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

    Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

    Georgia Entertainment CEO says large-scale production is slowing down – Decaturish

    Georgia Entertainment CEO Warns of Slowdown in Large-Scale Productions

    Zugalu Entertainment Welcomes Crimson Herring Studios to Its Family!

    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Harnessing emerging technologies to power a small business – The Oaklandside

    Unlocking Success: How Emerging Technologies Can Transform Your Small Business

    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Technology Innovation to Take Center Stage at The 2025 National Restaurant Association Show – Restaurant Technology News

    Get Ready for a Tech Revolution: The 2025 National Restaurant Association Show Unveils Cutting-Edge Innovations!

    Newmont signs deal to use Chrysos Corporation technology – Capital Brief

    Newmont Partners with Chrysos Corporation to Revolutionize Mining Technology

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Janet Yellen has a good point about government support of the chip industry

October 5, 2023
in Business
Janet Yellen has a good point about government support of the chip industry
Share on FacebookShare on Twitter

There’s a lot about Bidenomics that represents a departure from the US economic status quo, most notably the administration’s willingness to engage in industrial policy by subsidizing efforts to lessen dependence on fossil fuels and bring the manufacturing of computer chips back to the United States.

Should you buy McDonald’s and Caterpillar stock right now?

Economists are typically dubious that government planners can arrange for companies and workers to hit production targets—market measures of demand are more efficient signals for investment. But markets don’t have all the information they need to get these particular jobs done. After all, there’s no price on the damage caused by climate change, and when it comes to chips, even after the shortages that occurred in the covid-19 pandemic, investors aren’t incentivized to take into account what might happen if silicon supply chains are disrupted again by, say, trade wars or real ones.

The US government, however, is thinking about that quite a bit, and has decided (not incorrectly) that silicon supremacy will be key to protecting its global position in the decades ahead. That led to the CHIPS Act, a $280 billion spending package to incentivize more chipmaking in the US.

Why Janet Yellen is suddenly a fan of US industrial policy

While American companies like Nvidia, Intel, and Apple design advanced chips, most of them are actually made abroad in Taiwan and South Korea. The US only accounts for about 12% of global chip manufacturing.

Critics say Washington is wasting money on an effort that could leave the US industry reliant on the government and thus uncompetitive. But US Treasury secretary Janet Yellen has an empirical rejoinder to those concerns.

“Throughout my career, I’ve not been a strong believer in industrial policy generally,” she told a roundtable organized by Fortune Magazine this week. “But I think if you look at the semiconductor industry, and the way in which it’s evolved globally, over decades, what you see are enormous government interventions in virtually every country that plays a significant role.”

The US semiconductor industry has roots in TVs and the space program

Silicon chips first emerged in the United States in the 1950s, initially for replacing vacuum tubes in radios and televisions. But it was the space race that made semiconductors (and computers) a reality.

The US space program made up over 70% of the worldwide demand for transistors as late as 1965. The purpose and ultimate benefit of the Apollo program has long been debated, with the $283 billion spent on it balanced against the scientific progress and geopolitical signaling, but certainly funding the initial years of what would become a thriving semiconductor industry counts for a lot.

In Taiwan, the world’s largest producer of silicon chips, the semiconductor industry was the result of direct government intervention, according to Genda J. Hu, a Taiwan Semiconductor Manufacturing Company executive interviewed by the National Academies of Science in 2003. Taiwanese policymakers made a conscious decision to fund research and development, and then provided start-up capital to the first three Taiwanese chip-makers, including TSMC.

South Korea, the second-largest producer of chips, saw its industry emerge with government support as well, if less than in Taiwan. But its chipmakers were chaebol, the large, family-run industrial conglomerates that cooperated closely with the government. Today, policymakers in Seoul aren’t debating whether to support their chip industry, but how.

And Japan, which was the first country to overtake US chipmakers in the 1980s, also deployed government power. According to one history of Intel, the Japenese government helped private companies track US patent filings to gain an edge and subsidized chip sales at artificially low prices abroad.

Now, all these countries—not to mention China, with its massive program to take the lead in semiconductor manufacturing—are thinking about how to maintain or increase their share of the global chip market. That may end up being a race to the bottom. But it’s not clear how any of the participants can opt out, at least to Yellen.

“We’re fooling ourselves if we think that abandoning, for all practical purposes, semiconductor manufacturing is a smart strategy for the United States,” she said.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Quartz – https://qz.com/janet-yellen-has-a-good-point-about-government-support-1850903606

Tags: businessJanetYellen
Previous Post

Canva releases AI tools to automate boring design tasks

Next Post

Canadian Dollar pushing for more as US Dollar eases back, Crude Oil continues to lag

Lifestyle Lookout: Mother’s Day brunch in Bellingham, Big Jam Stories in Ferndale and The Spring Wine Walk – My Bellingham Now

Unforgettable Mother’s Day Brunch, Big Jam Stories, and the Spring Wine Walk: Exciting Events in Bellingham and Ferndale!

May 10, 2025
WCK Forced to Halt Cooking in Gaza as Supplies Run Out – World Central Kitchen

World Central Kitchen Suspends Operations in Gaza Amid Supply Crisis

May 10, 2025
China Reacts to Trump Claims About ‘Suffering’ Chinese Economy – Newsweek

China Responds to Trump’s Claims of Economic Struggles: What You Need to Know

May 10, 2025
Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

May 10, 2025
Optimizing Human Health On Earth And In Space – Texas A&M Today

Optimizing Human Health On Earth And In Space – Texas A&M Today

May 10, 2025
Rep. Marjorie Taylor Greene says she won’t run for U.S. Senate – NBC News

Marjorie Taylor Greene Declares She’s Not Entering the Senate Race!

May 10, 2025
Harnessing emerging technologies to power a small business – The Oaklandside

Unlocking Success: How Emerging Technologies Can Transform Your Small Business

May 10, 2025
Tucker Timmerman, Ava Bredwell, Nebraska Alumni Association on Sports Nightly: Thurs., May 8, 2025 – huskers.com

Join Tucker Timmerman and Ava Bredwell for an Exciting Evening on Sports Nightly!

May 10, 2025
What’s in your backyard? Public invited to test soil samples for toxics – Department of Ecology – State of Washington (.gov)

Discover What’s Lurking in Your Backyard: Join Us for a Soil Testing Event!

May 10, 2025
Scientists develop next-gen energy storage technologies that enable high power and capacity simultaneously – Tech Xplore

Revolutionary Energy Storage Technologies Set to Transform Power and Capacity!

May 10, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (596)
  • Economy (608)
  • Entertainment (21,521)
  • General (15,210)
  • Health (9,650)
  • Lifestyle (613)
  • News (22,149)
  • People (610)
  • Politics (615)
  • Science (15,829)
  • Sports (21,118)
  • Technology (15,598)
  • World (598)

Recent News

Lifestyle Lookout: Mother’s Day brunch in Bellingham, Big Jam Stories in Ferndale and The Spring Wine Walk – My Bellingham Now

Unforgettable Mother’s Day Brunch, Big Jam Stories, and the Spring Wine Walk: Exciting Events in Bellingham and Ferndale!

May 10, 2025
WCK Forced to Halt Cooking in Gaza as Supplies Run Out – World Central Kitchen

World Central Kitchen Suspends Operations in Gaza Amid Supply Crisis

May 10, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version