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On Mon, 12 Mar 2018 19:06:02 -0400, wrote:

On Mon, 12 Mar 2018 13:05:53 -0400,
wrote:

It turns out that the US steel industry shot themselves in the foot by
not adopting new technology back in the 1950s while the rest of the
world was doing it - very similar to what happened to the US auto
industry back in the 1970s.

It did not help the advancement of labor saving technology if they
understood they still needed to employ the same number of people.

===

Certainly union agreements didn't help but It was more fundamental
than that:

https://www.bloomberg.com/view/articles/2018-03-05/steel-history-shows-how-america-lost-ground-to-europe

Better, cheaper technology became widely available but US steel
companies didn't invest in it for reasons that are not entirely clear.
The only exception was Nucor that continues to do well, even in the
face of foreign competition.

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