""Government intervention in the economy in the name of national security is most clearly warranted in cases of market failure," a new report from a bipartisan task force organized by the Council on Foreign Relations says. "Today, the market failures that loom largest for U.S. national security are shortfalls of private capital in strategically important areas and over-concentration of critical supply chains in unfriendly countries," the report adds."
"Zoom in: The task force recommends building on Trump's AI Action Plan released earlier this year by onshoring the manufacturing of semiconductor inputs. It also proposes that the government help establish bio-manufacturing hubs alongside the private sector and fund U.S. companies to build a stockpile of pharmaceutical components. The group says the Department of Defense should help develop the world's first quantum computer, "stimulating the U.S. private sector to meet the department's need.""
A bipartisan task force organized by the Council on Foreign Relations recommends targeted government intervention when market failures threaten national security. The task force identifies two primary market failures: insufficient private capital in strategically important areas and excessive concentration of critical supply chains in unfriendly countries. Recommended measures include onshoring semiconductor-input manufacturing, creating bio-manufacturing hubs with private partners, funding stockpiles of pharmaceutical components, and involving the Department of Defense in developing a quantum computer to spur private-sector responses. Co-chairs include Justin Muzinich, Gina Raimondo, and Jim Taiclet, with members from major technology and finance firms. Focus areas include AI, quantum computing, and biotechnology, with an emphasis on trusted supply chains to limit foreign leverage.
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