| Abstract: | In a recent article, Professor Ault has stated that:
studies of the steel industry during the fifties and early sixties have indicated that the major cause of the deterioration of the ability of the U.S. industry to compete was the failure of increases in the productivity of US. steel workers to keep pace with increases in the wages and benefits paid to those workers. One of the principal causes for this lag in productivity was the failure of major U.S. producers to adopt the Basic Oxygen Furnace as rapidly as major foreign producers…despite the fact that the Oxygen converter proved to be capable of producing basic steel products at lower unit cost than any other production technique. |
