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Government should support industry

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There is a segment of the US population that strongly believes that the federal government should "stay out of the way of business" and essentially let the marketplace evolve via its own "pure market" dynamics. This perspective views government as essentially the enemy of commerce. Other people strongly believe that government can play a facilitative role in supporting business and industry development. Using an industry of your choice, articulate your own position in regard to the role that government should play in facilitating industry development.

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The need for the US government to support the semiconductor industry is discussed in a structured manner in this response. The related references are also provided.

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I support the position that the government should play in the facilitation of industry development and that the government should play an important role in increasing efficiency, and to help build infrastructure. The industry of my choice is the semi-conductor industry. The government should provide grants for the building of new domestic manufacturing facilities, and give tax credits. The direct reasons for this support are to increase semiconductor industry jobs, increase the capacity of US-based semiconductor manufacturing, and preventing China from "dominating" the global semiconductor market. From the perspective of economics, the government must provide support for macroeconomic stability, and equity (1). In this context the US government support to the semiconductor industry is important because the semiconductor industry is vital for the national security of the United States, to remain competitive. After all, China intends to dominate the semiconductor supply chain, and ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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