The American steel industry: An analysis of its history, strategies, and market control

"The American Steel Industry; An Analysis of Its History, Strategies, and Market Control" is a longitudinal study of domestic steel between 1850 and 1990. This dissertation looks at its evolution and key turning points.; The Introduction centers on Andrew Carnegie's market control strategies. These strategies shaped the industry's structure and price wars.; Part One discusses America's early industrialization and laissez-faire's political cooperation. This cooperation encouraged America's first big business--the Railroads. A study of the railroad industry serves as a useful model for examining the steel industry.; Part Two applies lessons gained from Part One to the domestic steel industry. Yet, there is nothing like War-time nationalism that encourages market efficiency and production. During the First World War the government encouraged steel consolidation and price regulation, but in ways directed by the industry (the railroad case). The industry used War time market regulations to its advantage. Part Three explores this new spirit of price manipulation. That is, the influence of industry prices on inflation.; Over time, rising steel prices destabilize an industry's market control. Part Four considers this problem. It shows what happened to the industry's structure, the ways in which it dealt with employment costs, and the means by which it reduces foreign competition.; Today, domestic steel is one of the most productive industries in the world. It has lower production costs. As Chapter Ten shows, America's production costs are lower than Japan and Europe. This is not indicative of another dying American industry. How this happened is the substance of the concluding chapter.