As factories closed and more companies moved their operations offshore, employment in manufacturing has declined over the years. But now the Biden Administration is spending big on industrial policies, such as the CHIPS and Science Act and the Inflation Reduction Act, to bring manufacturing, especially semiconductors and electric vehicles, back to the U.S. But some economists warn against the dangers of government playing favorites in a free market. So how exactly is the U.S. government convincing manufacturers to return? And will its bet pay off?
Chapters: 00:00 — Introduction 01:58 — Industrial policies 04:47 — Pros and Cons 08:20 — Way forward
Produced & Edited by: Juhohn Lee Animation: Christina Locopo Supervising Producer: Lindsey Jacobson Additional Sources: EPA, White House, Department of Commerce, Center for Strategic & International Studies, Census Bureau
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