No-growth industries make choices that are perfectly rational, yet corrosive.
- You don't fund apprenticeships when there's no new capacity to staff.
- You don't keep spare metallurgical know-how on the payroll when nobody's ordering.
- You don't recruit ambitious 25-year-olds into a sector whose pitch is "stable, essential, and never going anywhere.
So, the utilities didn't.
- The transformer makers didn't.
- The steel mills didn't.
- The workforce aged in place and the labor pipeline behind it ran dry...
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