Abstract
Semiconductors are an American invention. US industry enjoyed a virtual technical and commercial hegemony well into the 1970s, but later came under severe pressure from foreign competition, accentuating widespread fears about long-term American competitiveness. This paper is an examination of the US industry in the context of its development path as compared to those of the European and Japanese industries, and explores its strategic and structural evolution under growing pressures from such factors as increasing competition, industry globalization, rapid technology advances, and capital intensification. These change mechanisms are explored, significant new structural elements identified, and a simple model of an emerging, perhaps more competitive, industry structure is delineated.
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