When Congress passed the CHIPS Act in 2022, it was the first major piece of U.S. industrial policy legislation in decades and was intended to expand America's ability to manufacture the computer chips that are vital for everything from AI to phones and modern automobiles. Mike Schmidt, distinguished visitor at Princeton University's Griswold Center for Economic Policy Studies and a non-resident senior fellow at the Institute for Progress, was the first employee of the Commerce Department office tasked with turning the CHIPS Act into an actual program that is today supporting the construction of hundreds of billions of dollars of new semiconductor factories in places from Arizona and Texas to New York.
Schmidt joins Lawfare Contributing Editor and host of the Security Economics podcast Peter Harrell to discuss how the CHIPS program came together, challenges in implementation, and lessons for U.S. industrial policy in other critical sectors.
This episode is part of the Security Economics podcast series, in which Peter Harrell and guests explore the intersection of economics and national security, how countries manage their economies to support national security, and how they deploy economic tools in support of geopolitical objectives.
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