3 Review(s)

The author discusses the uses and sources for capital in the steel industry in the 1990s. Arguing that the massive capital investment of the 1980s will continue, he identifies areas where this capital will be spent, including pension schemes, anti-pollution measures, and joint ventures between steel companies, both domestically and internationally. Additionally, as privatization continues in the 90s, more capital will shift from government-owned facilities to private individuals. Hogan asserts that capital which was readily available in the 1980s, will be more difficult to obtain in the recessionary 1990s, but available for projects deemed necessary to prepare the industry for the 21st century.