Chip War

Microchips are the new oil: military, economic and geopolitical power now rest on a foundation of computer chips. Economic historian Chris Miller explains how the semiconductor came to play a critical role in modern life, how the United States became dominant in chip design and manufacturing, and how it applied that technology to military systems.

America's Cold War victory and global military dominance stemmed from its ability to harness computing power more effectively than any other power. Now that edge is in danger of slipping, as Taiwan, Korea and Europe take over manufacturing and China, which spends more on chips than on any other product, pours billions into a chip-building initiative to catch up.

At stake are America's military superiority and economic prosperity. Winner of the Financial Times Business Book of the Year in 2022, the paperback edition adds new material on "America's Chip Comeback": the CHIPS Act, the new export controls on China, and the effort to rally allies to guard chip technology.