National Industrial Policy – Private Capital and The America’s Frontier Fund Steps Up

Last month the U.S. passed the CHIPS and Science Act, one of the first pieces of national industrial policy – government planning and intervention in a specific industry — in the last 50 years, in this case for semiconductors. After the celebratory champagne has been drunk and the confetti floats to the ground it’s helpful to put the CHIPS Act in context and understand the work that government and private capital have left to do.