The worldwide competition for bandwidth “is like the space race where the winner will see benefits in terms of innovation and economic growth that will last for years to come,” according to Julius Genachowski, chairman of the Federal Communications Commission (FCC). In an interview with Wharton legal studies and business ethics professor Kevin Werbach , Genachowski says that while the U.S. is leading the world in terms of developing infrastructure for the next generation of mobile broadband, the country faces “ some real challenges” in keeping ahead. Among them: the possibility of hitting a wall when the demand for spectrum outstrips supply. An edited transcript of the conversation follows: Kevin Werbach : You are the chairman of the FCC, which oversees telecom, media and [other] tech issues. A big [subject] that you deal with all the time is broadband. So, from your perspective, how is the U.S. doing on broadband?…