This week, we try to steel man the arguments against freeing up the steel industry. Steel is always sold as a strategic industry. We’re often told that we cannot free the market, that we must have tariffs on foreign steel, and that we must protect (subsidise or nationalise) our own steel industry. We conduct a thought experiment on what would actually happen if the steel market was given a little (and a lot)more freedom before moving on to freeing up other industries like nuclear power. And chicken.