近日，美國(guó)George Mason大學(xué)的教授Donald J. Boudreaux在華爾街日?qǐng)?bào)發(fā)布了一封公開(kāi)信。
他在信中首先表示，拜登政府對(duì)產(chǎn)業(yè)政策的社論批評(píng)是正確的。但是，如果將納稅人的 540 億美元資金投入一個(gè)據(jù)稱處于危險(xiǎn)之中的美國(guó)半導(dǎo)體行業(yè)，這個(gè)帶來(lái)的荒謬之處比你有空間提及的要深刻得多。
他在信中接著說(shuō)，正如您所指出的，美國(guó)公司在設(shè)計(jì) （52%） 和芯片制造設(shè)備 （50%） 方面占據(jù)主導(dǎo)地位，這是真的。但關(guān)于這個(gè)行業(yè)的好消息并不止于此。考慮一下卡托研究所的 Scott Lincicome 最近對(duì)美國(guó)半導(dǎo)體行業(yè)健康狀況的總結(jié)：“美國(guó)也是全球排名前五的半導(dǎo)體和相關(guān)設(shè)備出口國(guó)，2019 年這些商品的出貨量接近 470 億美元。這些和其他數(shù)據(jù)使得SIA 在其 2020 年美國(guó)半導(dǎo)體行業(yè)狀況報(bào)告中得出結(jié)論——美國(guó)的半導(dǎo)體制造基地仍然穩(wěn)固。
SIA 還報(bào)告說(shuō)，美國(guó)產(chǎn)業(yè)占全球半導(dǎo)體銷售額的‘近一半’——自 1990 年代后期以來(lái)，該市場(chǎng)份額一直穩(wěn)定（從 40 年代中期到 50 年代低端）——并且是每個(gè)行業(yè)的最暢銷產(chǎn)品。主要區(qū)域市場(chǎng)，當(dāng)中包括中國(guó)。美國(guó)半導(dǎo)體公司的銷售額也從 1999 年的 767 億美元增長(zhǎng)到 2019 年的 1928 億美元——復(fù)合年增長(zhǎng)率接近 5%。
Donald J. Boudreaux強(qiáng)調(diào)，補(bǔ)貼總是令人懷疑，尤其當(dāng)它們涌入蓬勃發(fā)展的行業(yè)時(shí)，無(wú)疑是不可原諒的。我們還需要什么進(jìn)一步的證據(jù)來(lái)得出結(jié)論，不能相信政治家會(huì)明智地分配資源？
U.S. Chip Industry Chipper, Subsidy a Waste
Your editorial criticisms of industrial policy are spot on （”Industrial Policy, Same Old Politics,“ May 26）。 Yet the absurdity of now throwing $54 billion of taxpayers' money at an allegedly on-the-ropes U.S. semiconductor industry runs more deeply than you had space to mention.
It's true, as you note, that ”American companies dominate in design （52%） and chip-making equipment （50%）。“ But the good news about this industry doesn't stop there. Consider this recent summary, by the Cato Institute's Scott Lincicome, of the healthy state of America's semiconductor industry: ”The United States is also a top-five global exporter of semiconductors and related equipment, shipping almost $47 billion of those goods in 2019. These and other data led the SIA [Semiconductor Industry of America] to conclude in its 2020 State of the U.S. Semiconductor Industry report that 'the semiconductor manufacturing base in the United States remains on solid footing.‘“
”The SIA also reports that the U.S. industry has 'nearly half' of all global semiconductor sales—a market share that has been steady （ranging from the mid‐40s to low 50s） since the late 1990s—and is the top seller in every major regional market, including China. Sales by U.S. semiconductor firms also grew from $76.7 billion in 1999 to $192.8 billion in 2019—a compound annual growth rate of almost 5%.“
”Beyond output and sales, the U.S. semiconductor industry has been a global leader in capital spending （capex） and R&D.“
Subsidies are always suspect, but when showered on industries that are thriving, they are beyond doubt inexcusable. What further proof do we need to conclude that politicians cannot be trusted to allocate resources wisely?
Prof. Donald J. Boudreaux
George Mason University
Fairfax, Va.
