[lbo-talk] Bush shakes down steel industry as he prepares to screw it

[Michael Perelman]

Does anyone believe this?  The steel industry owed its structure to the
absence of antitrust.  Accustomed to protection via location rather than
tarrifs, modernization was nonexistant.  The mills near where I lived were
build between 1880 and 1917, without modernization.

On Tue, Dec 02, 2003 at 03:08:56PM -0800, Eubulides wrote:
> 
> [snip]
> While other countries
> reduced the costs of modernizing their steel industries through subsidies,
> the United States remained doggedly antitrust, thus increasing the cost of
> modernization and causing overexpansion.
> 
> 
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-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu