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Essay / Research Paper Abstract
This 5 page paper provides a historical overview of the steel industry in the United States. The build up through 1969 and decline from 1970 is discussed in depth. Projections for the future are made. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: RT13_SA333stl.rtf
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Unformatted sample text from the term paper:
by the 1970s, America had lost its competitive edge. Since 1901, J.P. Morgan and others pioneered what would become the largest enterprise in industry on the planet and
it controlled greater than half of the American market (Gordon, 2003). The market in steel was good for the U.S. and something that would persist through the Second World War
and in fact, the industry hit its peak in 1969 (2003). It was by no means stagnant during that time period when other industries experienced slow growth at times. It
was an era of labor movements and the CIO was formed in 1938, an organization that helped the steel industry workers a great deal ("Labor," 1991). In any event, it
seems that the industry was at its height in 1969, and began to decline in 1970. Interestingly, 1969 is the end of the 1960s, a time of protest against big
business, the Vietnam War and everything that was considered stable in society. There was in fact an ideological shift at the time and to some extent, the will of the
people may have played a role in the downing of an American heritage of sorts. Suddenly, there was more attention to the rest of the world. Globalization would slowly begin
as communications and technology in general would increase. There were computers then, but nowhere equivalent to the likes of what exists today. People were still dialing land lines and there
was much to come in respect to progress. What happened to the steel industry after 1969? Gordon (2003) explains it like this: "...new, more efficient steel plants with
much lower labor costs were being built abroad, and these, helped by a sharp drop in transportation expenses, began to give American steel companies increasing competition." Indeed, to some extent
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