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President Biden signs CHIPS and Science Act into law

jmch Silver badge
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"There isn't a research and development problem ... There IS a manufacturing and workforce issue"

This sums it up perfectly. Companies didn't move manufacturing overseas because they couldn't find any competent people or couldn't build factories, they did it because local competent people were more expensive than the competent people abroad, and local regulations made building and running factories more expensive than in places with less regulation.

The bill is framed as an investment in technology, but it's actually state funding to offset the additional expenses that fabs have to operate in the US instead of abroad. It's not really a handout to Intel etc because their extra income will, in effect, flow to all their US employees and contractors/suppliers*.

Same with the similair EU chip funding. I'm not saying its a bad thing, its actually good to be more self reliant for technology (also for energy which is another parallel issue).

*Distinct from pork, because it has a targeted end goal deemed to be useful to local society and not just to the reelection chances of some congresspeople/senators

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