Currently making my way through the excellent “Learning By Doing: The Real Connection between Innovation, Wages, and Wealth” by James Bessen. Just wanted to highlight this bit about the knowledge economy, technological progress, and automation. Or, to be more specific, what to tell politicians and policymakers who want to use subsidies or trade protection to preserve jobs in particular industries. Here, the story of American steel and how minimills outcompeted the Big Steel of current economic nostalgia:

AEI.org/publication/the-story-of-american-steel-and-failed-protectionism