Analysis
May 6, 2025
Final Thoughts
Written by Stephen Miller
Given the news about tariffs and bringing back industries to the US, a brief look back in time may show how our economy changes with technological advances and the shifting economies of scale.
A good case is the history of ironmaking in the US, particularly the pig iron industry in Southeast Ohio in the early 1800s. This may shed some light on our current endeavor to turn back the clock and bring back industries that declined because they were better suited to yield to new technology, environmental concerns, and demographical trends in our society.
