Productivity and Cyclicality in Semiconductors Trends, Implications, and Questions: Report of a Symposium (2004) / Chapter Skim
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Introduction
Introduction
Pages 4-5
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From page 4... ...
STEP was formed a decade ago for the purpose of bringing economics to the National Research Council more directly. Economics had been part of the National Academies' structure for about 25 years, but studies done at the National Research Council -- which has a mandate to advise the federal government on issues related to science and technology -- did not exploit the potential of economics.
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From page 5... ...
The growth of the industry periodically exceeds the capacity of the economy to absorb its products2-until this overhang eventually self-corrects in a painful fashion. Hence the industry creates complex challenges for its managers and substantial ripple effects throughout the economy.
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