Stop me if you’ve ever heard some version of the following argument: government mandates and funding gave us the __________ [insert: space shuttle, internet, Silicon Valley], so the government should spend $ __ billions/trillions on stimulating innovation and shaping industrial policy today.

But that argument is built upon a simplistic and sometimes flawed understanding of what actually happened in the past. The true story is much more complex. In this episode, Paul talks with historian Christophe Lecuyer about the military’s role in the creation of Silicon Valley. And he then sits down with Cato’s Peter Van Doren to discuss the track record for government industrial policy in the decades since.

What is silicon logic, user logic and competitive logic? Does the military use new technologies first? What are the advantages of Pentagon contracts compared to private contracts? What is the difference between research and development contracts and manufacturing contracts?

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