> 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.
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Didn't they have to fight like hell to roll back anti-trust, even after 1920?
They're still trying to roll back a-t:
http://www.businessweek.com/bwdaily/dnflash/jan2002/nf20020124_9747.htm