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29 August, 15:27

A number of political leaders have expressed concern about the nation's decline as a major steel producer. many have advocated policies to restrict imports and promote domestic production. these individuals would see their position weakened most by the knowledge that

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  1. 29 August, 16:45
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    The answer to the question is that the substitution of domestic steel for foreign steel absorbs resources that would otherwise produce goods of great value.

    Though America is declining in terms of domestic steel production, it does not mean the nation as a whole is failing, including in terms of production. Since the skills that workers use to produce steel are transferable to other industries, this allows them to be involved in industries that are creating more relevant value right now than steel; choosing to return to domestic steel production might prove to be inefficient.
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