From Weirton Steel to Walmart - The First 1,000 Days

[@CJinsoo]

Weirton Steel: just like other mills, had to modernize to remain in business. modernization meant far less need for labor. USA dominated global steel production for decades. Mills and labor agreed to higher compensation to avoid strikes, and they could price steel to recover those costs. as the industry modernized globally-the USA portion was crushed. Weirton had a great idea of employee ownership and it worked for a while, but it also underscored that wages and employment level had to drop significantly for the plant to remain profitable-and that was with employee ownership. USA should have prevented foreign dumping, but if they did it likely just delayed the inevitable by a few years.