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Steel manufacturing was once the most important industry in the United States. It was one of the largest employers, a driver of economic growth, and impacted our national security. Cars, weapons, skyscrapers… all required steel.
But in the second half of the 20th century, the industry’s power began to decline. Foreign steel companies gained more market power, and the old American steel industry was reluctant to change and invest in new technologies. But then a smaller company seized the opportunity and changed the industry.
Today’s show is about: What can the decline of a once-glorious industry teach us about innovation and technology? And why we should never underestimate the underdog.
This episode is hosted by Erika Beras and Mary Childs. Produced by Willa Rubin and edited by Jess Jiang. Designed by Cena Loffredo. Fact-checked by Sierra Juarez. Our executive producer is Alex Goldmark.
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Music: Universal Music Productions – “Devotion,” “Away We Go” and “Like Dreaming”
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