New climate, technical accounts increase government’s role in private markets

With two bills introduced by Congress in recent weeks, the Biden administration has boosted the federal government’s impression on key sectors of the U.S. economy — including semiconductors, energy and health — and the idea once rife in Washington. that private markets must be abandoned, further buried alone, without government intervention.

The shift stemmed from two decades of economic crises, rising national populism, growing economic rivalry with China and concerns about the long-term effects of climate change.

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