The JFK Tradition

January 1977
National Review;1/7/1977, Vol. 29 Issue 1, p17
The article criticizes the controversy over the slight rise in steel prices in the United States. Those who disapproved of the increase in prices failed to understand that inflation reflects an imbalance between the supply and demand. The claim that steel price increases are not justified should realize that the steel industry has return on equity of 6 percent compared to 11 percent for all manufacturing.


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