The reason we have a chip shortage in the first place is that slow growth has rationalized underinvestment. I suppose we can have a reshored chips industry by h

The reason we have a chip shortage in the first place is that slow growth has rationalized underinvestment. I suppose we can have a reshored chips industry by handing out electronics coupons in a recession, but that is a really blunt instrument with high distortion risk. It's not like all chips are fungible or whatever, there is a real risk of subsidizing the "wrong thing" without a broader macroeconomic story (which could be planned in theory, but won't be in the US so we must rely on markets) to validate the "end use values" --- ensure the downstream benefits are extent to discipline the upstream chip production why also incentivize it. The good thing about finding bottlenecks in a high pressure economy is those are the actual problems to be solved. But problems shift --- the goalposts actually aren't fixed --- so better to keep things high pressure the whole time.