Cast-iron arguments

ON THE rich world’s long march away from heavy industry, Britain once again finds itself to the fore. Unless Tata Steel UK is sold in the next few weeks, its Indian owner will close it down. Some 15,000 jobs are at stake—and thousands more in the local economy of the largest works, at Port Talbot, in south Wales. Because the glut is global, Britain is grappling with questions that are bearing down upon steelmakers around the world. Unfortunately, if Britain is any guide, governments are likely to come up with the wrong answers.