Abstract

In the 1950s, the American steel industry dominated the world in steel production. It was a strong and thriving sector of our national economy. Throughout the 1970s, however, the steel industry has been in sharp decline. Foreign competition, high labor costs, periodic recessions, and lack of modernization are some of the factors that have contributed to the industry's inability to produce steel in a competitive market. These developments in the steel industry have affected not only our national economy but also the lives of one million steelworkers. The ugly economic and social effects of. unemployment have caused hardship for many steelworkers,particularly in the Midwest and the Northeast.

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Economics

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Economics Commons

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