In the News
1700 jobs go as Redcar steel plant is mothballed
The dynamic nature of comparative advantage demonstratedby the decision to 'mothball' the SSI plant in Redcar. Yes, negative regional multiplier effect may be triggered but that's the nature of this sort of thing. However, the government bailing out the steel plant isn't a viable long-term solution - the key to getting the region back on its feet is ensuring the occupational and geographic flexibility of its workforce, tough though that may seem.