Freakonomics Radio 533. Will the Democrats “Make America Great Again”?
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Feb 9, 2023 Join Gina Raimondo, U.S. Secretary of Commerce, and Brian Deese, Director of the National Economic Council, as they explore the Biden administration's ambitious push to reshape American industrial policy. They discuss the drastic budget increase for the Commerce Department and the challenges of revitalizing U.S. manufacturing in the face of global competition, particularly with China. The conversation also touches on the complexities of semiconductor supply chains and the socio-economic implications of the fentanyl crisis, highlighting the necessity for collaborative governance.
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Raimondo's Father's Job Loss
- Gina Raimondo's father worked as a chemist at the Bulova watch factory.
- He lost his job when the company moved operations to China.
CHIPS Act and Reshoring
- The CHIPS Act aims to bring semiconductor chip manufacturing back to the U.S.
- It has bipartisan support and allocates $50 billion in subsidies.
Revitalizing US Manufacturing
- The CHIPS Act investments are necessary to revitalize the U.S. manufacturing base.
- These investments are expected to create many manufacturing and construction jobs.