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industries encountered severe global competitive challenges 2. companies that pioneered these industries, moreover, were supported over the years through federal research grants, small-business loans, and government and military procurement.Īs they reached the point of large-scale commercial production, each of these U.S. universities and national laboratories at considerable American taxpayer expense. The core technologies are the fruits of decades of research at U.S. leadership in this sector has been secured through enormous federal investments, though the industry faces numerous challenges in terms of litigation, regulatory pressure, and counterfeit drugs.Įach of these three industries shares another characteristic. The pharmaceuticals industry is likewise strategic, producing medicines and vaccines that are essential to the well-being of Americans and indeed the world’s people. military and for storing renewable energy for utility power grids. Lightweight, long-lasting, rechargeable energy-storage systems also are required for advanced weapons systems being developed by the U.S. A strong domestic battery industry, therefore, is regarded as crucial to the future competitiveness of the U.S. Advanced batteries and their electrical management systems are the core components of hybrid and electric vehicles, much as internal combustion engines have been to conventional gasoline-powered cars and trucks. Photovoltaic cells are the enabling technology of solar power, a key source of renewable energy that can serve America’s national interests in reducing dependence on petroleum and cutting greenhouse gas emissions. American leadership in semiconductors also is vital to the technological superiority of the U.S. Integrated circuits are the building blocks of all electronics products and have enabled the breathtaking advances in information technology that drive productivity gains across all industries. Each of these industries can be regarded as strategic to the United States. This chapter explores the major policy issues in four of these industries-semiconductors, photovoltaic products, advanced batteries, and pharmaceuticals. The STEP board also has studied the policies adopted other nations and compared them to those of the United States. In recent years, the Science, Technology, and Economic Policy Board of the National Academies has extensively studied the competitive challenges facing a number of important high-tech industries. technology companies to raise the capital needed to turn designs into prototypes and prototypes into products made in large volumes. The financial crisis of 2008 has made it even more difficult for U.S.
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As China, South Korea, Germany, and Taiwan target industries such as renewable energy equipment, solid-state lighting, electric vehicles, and next-generation displays with comprehensive strategies and generous subsidies, the U.S.
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The intensifying global race to dominate an array of emerging high-tech industries once again has focused attention on the role of public policy. Telecommunications, aerospace, semiconductors, computers, pharmaceuticals, and nuclear power are among the many industries that were launched and nurtured with federal support. federal government has played an integral role in the early development of numerous strategic industries, not only by funding research and development but also through financial support for new companies and government procurement. These policy debates have to some extent obscured actual practice, both in the United States and abroad. industry confronted new competitive challenges. In the United States, however, the idea of proactive government help for private industry in the name of economic development has sometimes raised concerns about distorting market forces and the wisdom of letting public servants “pick winners.” The debate began with Alexander Hamilton, who was an early advocate of “bounties” to encourage desirable industry, continued through the 19 th century, and has resurfaced many times in the post-war era as U.S.
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1 Many nations in Europe and Asia have not hesitated to use the full force of government to attain commercial competitive advantage in industries they regarded as strategic. The appropriate role of public policy in promoting specific industries has been a source of passionate debate in the United States since the founding of the Republic.