8min chapter

Debunking Economics - the podcast cover image

The trade war has begun

Debunking Economics - the podcast

CHAPTER

Reassessing Steel in Global Trade

This chapter explores the intricacies of comparative advantage in global economics, particularly with steel production and iron ore resources. It critiques the notion that cheaper labor can effectively attract capital, while examining the historical context of American industry and the effects of globalization and automation on manufacturing. The discussion highlights recent economic trends in the U.S., challenges of de-industrialization, and the impacts of technological advancements on the workforce.

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