President Biden and Democratic Party leaders are trying to take credit for seeding the next generation of innovations in the information technology sector. Crowing about their latest industrial policy, the CHIPS and Science Act, Senator Schumer stated that “the federal government [is] taking back the reins, putting money where its mouth is when we say we want the future of tech to be stamped: ‘Made in America.’”
The politicians are correct that the information technology sector is a crucial driver of economic growth that creates tens of millions of jobs, trillions of dollars in income, and improves our daily lives. The problem is that IT is constantly in flux and today’s leaders can quickly become tomorrow’s laggards.
Government industrial policy is informed by a small number of policymakers who are driven by political considerations. When combined with the sclerotic government bureaucracy, industrial policies such as the CHIPS and Science Act rarely achieve their desired ends.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Instead Of The CHIPS Act Congress Should Address Patent Troll Abuse
Wayne Winegarden
President Biden and Democratic Party leaders are trying to take credit for seeding the next generation of innovations in the information technology sector. Crowing about their latest industrial policy, the CHIPS and Science Act, Senator Schumer stated that “the federal government [is] taking back the reins, putting money where its mouth is when we say we want the future of tech to be stamped: ‘Made in America.’”
The politicians are correct that the information technology sector is a crucial driver of economic growth that creates tens of millions of jobs, trillions of dollars in income, and improves our daily lives. The problem is that IT is constantly in flux and today’s leaders can quickly become tomorrow’s laggards.
Government industrial policy is informed by a small number of policymakers who are driven by political considerations. When combined with the sclerotic government bureaucracy, industrial policies such as the CHIPS and Science Act rarely achieve their desired ends.
Click to read the full article in Forbes.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.