Economic Issues in the Stabilization of the Iron and Steel Industry

Abstract

DURING THE YEAR 1959, more attention was focused on the economic significance of the iron and steel industry than has been the case for this or any other industry in any comparable peace time era. The importance of the industry for national economic well-being was realized early during the days of the prolonged strike. Estimates vary considerably as to the costs of the nearly four months of work stoppage. It will be some time, however, before all the indirect costs may be calculated. The total of the direct and indirect economic burden easily could surpass 10 billion dollars.