Bootleggers and Baptists in the U.S. Steel Deal

Bootleggers and Baptists in the U.S. Steel Deal

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As President Joe Biden continues to mull whether to allow one private steelmaking company to purchase another, it’s worth taking a moment to appreciate the bizarre political alliances that opponents of the U.S. Steel/Nippon Steel deal have forged. Like the American steelmaking company that’s working with a prominent environmentalist group to lobby the White House to block the deal. The steel company is Cleveland-Cliffs, the Ohio-based company that lost the bidding war to buy U.S. Steel last year. […]

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Tweet Arnold Kling ponders producers versus parasites. A slice: What I notice is that the elites on the Republican side tend to earn a living as producers. They make things that other people want or need. In contrast, elites on the Democratic side include many people one may think of as parasites. They depend on producers for taxes or donations, but they do not produce what consumers want. They may even make a living by impeding production. For […]

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