Strategic Capital

CSIS experts research the public incentives and private funds needed to achieve national and economic security priorities, focusing on supply chains and critical technologies.

Photo: Golden Fleet/U.S. Navy

Photo: Golden Fleet/U.S. Navy

Why the Golden Fleet Will Sail

Debates over a new battleship miss the larger issue—how to generate affordable naval firepower at scale. Seen as an arsenal ship, a “Golden Fleet” could reinforce distributed maritime operations while helping reform U.S. shipbuilding.

Commentary by Benjamin Jensen — January 9, 2026

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Jen Berlin

Jen Berlin

Vice President, Economic Security and Technology Department
Phil Luck

Philip Luck

Director, Economics Program and Scholl Chair in International Business
William Alan Reinsch

William Alan Reinsch

Senior Adviser and Scholl Chair Emeritus, Economics Program and Scholl Chair in International Business
Joseph Majkut

Joseph Majkut

Director, Energy Security and Climate Change Program
Jerry McGinn

Jerry McGinn

Director, Center for the Industrial Base and Senior Fellow, Defense and Security Department
Ilaria Mazzocco

Ilaria Mazzocco

Deputy Director and Senior Fellow, Trustee Chair in Chinese Business and Economics

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Why the Golden Fleet Will Sail

Debates over a new battleship miss the larger issue—how to generate affordable naval firepower at scale. Seen as an arsenal ship, a “Golden Fleet” could reinforce distributed maritime operations while helping reform U.S. shipbuilding.

Commentary by Benjamin Jensen — January 9, 2026

Betting on America

New Pathways to Prosperity ft. Paul Ryan, fmr Speaker of the U.S. House of Reps

Paul Ryan joins Navin Girishankar for a wide-ranging conversation on the big forces shaping politics and policy—competing populisms, U.S. trade policy and its discontents, out-of-control fiscal deficits, the future of the U.S. dollar, and the tech race with China.

Podcast Episode by Navin Girishankar and Paul Ryan — January 7, 2026

Photo: iLab/CSIS

What the New National Security Strategy Means for Naval Forces

The 2025 National Security Strategy recasts naval power as an economic and industrial instrument, pushing the Navy toward unmanned systems, hemispheric missions, and more cost-effective approaches to deterring China.

Commentary by Benjamin Jensen, Mackenzie Eaglen, and Henry H. Carroll — December 18, 2025

Navigating a New Energy Investment Paradigm

Fragmentation, volatility, and scarcity are ushering in a pragmatic new normal, in which low-emission energy and fossil fuels can both be attractive. As state intervention intensifies, proactive and coherent policy is needed to align investment flows with strategic objectives.

Report by Ray Cai — November 13, 2025

When Business and Politics Collide: Lessons from Nippon Steel

The CSIS Japan Chair examines the dynamics behind Nippon Steel’s acquisition of U.S. Steel and the broader lessons that might be drawn for future investment, government-business relations, U.S. policy, and U.S.-Japan relations. 

Event — October 29, 2025