The Steel “Crisis”
and the Costs of Protectionism April 16, 1999 The 8 million
employees in steelusing
industries
dwarf the fewer
than 200,000
steelworkers by a
ratio of more than
40 to 1. Worldwide economic developments have
combined to produce conditions that unfavorable for U.S. steel producers and favorable for American steel users. In this situation it is not the business of the U.S. government
to intervene in the marketplace and favor
one U.S. industry at the expense of other U.S.
industries. http://www.cato.org/pubs/tbp/tbp-004.pdf
Yeah who needs steel production anyway It is only a key ingredient in almost everything the Army and Navy needs in a full blown war. WHo needs tanks and airplanes. Everyone knows MAJOR wars are obsolete and can never happen - again. If China starts something and starts a major war we’ll just have to nuke them since we cannot keep up production like they can.. Great.