From Moore’s Law to Market Rivalry: The Economic Forces That Shape the Semiconductor Manufacturing Industry
Semiconductors are the backbone of modern technology. They power artificial intelligence, cloud computing, medical devices, and automotive systems. The competitive dynamics of semiconductor manufacturing determine the cost and accessibility of computing power and shape innovation, productivity, and global economic growth.
Dr. David Teece coauthored this paper arguing that the industry’s economics remain poorly understood and at risk for policy missteps that could stifle innovation. Through the lens of Moore’s Law and Rock’s Law, the authors identify three forces driving competition: capital, technology, and timing. They also reframe semiconductor competition as a dynamic, innovation-driven contest in which extraordinary risks and capabilities will define success.
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