VRA, the industry's futile attempts to attain legislative solutions to imports, and how these efforts contributed to the demise of legal rules and the continued decline of steel's economic well-being.
NOTES
1.
These numbers were taken from Economic Report of the President,
1978, p. 257 ( Washington, D.C.: U.S. Government Printing Office, 1978). For
an elaboration see Alan Wolfe, America's Impasse: The Rise and Fall of the
Politics of Growth, pp. 13-26 ( Boston, MA: South End Press, 1981).
2.
Wolfe, America's Impasse, p. 14.
3.
United States Congress, Senate, Committee on Finance, Steel Imports,
staff study ( Washington, D.C.: U.S. Government Printing Office, 1967).
5.
See
Federal Trade Commission, The United States Steel Industry and
Its International Rivals: Trends and Factors Determining International Competitiveness, pp. 41-93 ( Washington, D.C.: U.S. Government Printing Office, 1977).
6.
See William T. Hogan, Economic History of the Iron and Steel Industry
in the United States, vol. 3, pp. 1193-1295 ( Toronto & London: D.C. Heath, 1971); also, War Plants Disposal: Iron and Steel Plants, 2d progress report ( Washington, D.C.: U.S. Government Printing Office, 1945).
7.
Federal Trade Commission, The United States Steel Industry and Its
International Rivals, p. 53.
8.
The data of this section are taken from
Daniel R. Fusfield, "Joint Subsidiaries in the Iron and Steel Industry", American Economic Review ( May 1958): 578-87.
10.
Baron Paul A. and
Paul M. Sweezy, Monopoly Capital ( New York & London: Modern Reader Paperbacks, 1966).
11.
For a discussion of U.S. Steel's initial attempt to control the market,
see
Gabriel Kolko, The Triumph of Conservatism, pp. 30-39 ( New York: Free
Press, 1962).
12.
Quoted in
Estes Kefauver, In a Few Hands: Monopoly Power in America, p. 119 ( Baltimore, MD: Penguin Books, 1965).
13.
Council on Economic Advisors, Report to the President on Steel Prices,
pp. 8-9 ( Washington, D.C.: U.S. Government Printing Office, 1965).
14.
Ibid.
15.
Robert W. Crandall, The U.S. Steel Industry in Recurrent Crisis, p. 19
( Washington, D.C.: The Brookings Institute, 1981).
16.
Council on Wage & Price Stability, Report to the President on Prices
and Costs in the United States Steel Industry, p. 19 ( Washington, D.C.: U.S. Government Printing Office, 1977).
17.
Kefauver, In a Few Hands, pp. iii, 50.
18.
Hearings before the Committee on Finance, U.S. Senate, 89th Congress,
1st session, 1967, Proposals to Impose Import Quotas on Oil, Steel, Textiles,
Meat, Dairy Products and Other Commodities, p. 853.
-61-
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Book title: The Steel Crisis:The Economics and Politics of a Declining Industry.
Contributors: William Scheuerman - Author.
Publisher: Praeger Publishers.
Place of publication: New York.
Publication year: 1986.
Page number: 61.
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