The Steel Crisis: The Economics and Politics of a Declining Industry

By William Scheuerman | Go to book overview
Save to active project

2
Law and Social Power

Stripped of all technicalities, (the rule of law) means that government in all its actions is bound by rules fixed and announced beforehandrules which make it possible to foresee with fair certainty how the authority will use its collective power . . .

Friedrich A. Hayek

Law as a phenomenon distinct from the political command of the sovereign is possible only if it manifests itself as a general law. In a society which cannot dispense with power as a principle, complete generality of law is impossible.

Franz Neumann.

Unemployment, depression, and despair represent the most visible reminders of the domestic steel crisis. Yet another side of the deindustrialization of the U.S. steel industry lies hidden behind the more obvious tragedy of massive plant shutdowns. The erosion of laws manifests the less visible aspect of the decline of America's smokestack industries. As noted in the introductory chapter above, one theme running throughout this work is the contention that in the epoch of giant corporations with conflicting economic interests, public officials frequently view the rationality provided by law as too costly. The need to sacrifice laws is especially apparent in the arena of international trade where some industries, such as steel, have lost their international productive edge. Indeed, steel's decline presents policymakers with an apparently insoluble dilemma: the sheer size and importance of domestic steel to the economy preclude the industry's continued dismantlement; legislated protectionism, however, may lead to a trade

-22-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited page

Bookmark this page
The Steel Crisis: The Economics and Politics of a Declining Industry
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 221

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?