GET https://rct.dev.bbntimes.com/global-economy/did-antitrust-really-used-to-be-so-tough

ArticleController :: show

Request

GET Parameters

None

POST Parameters

None

Uploaded Files

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Request Attributes

Key Value
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x-php-ob-level
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Request Content

Request content not available (it was retrieved as a resource).

Response

Response Headers

Header Value
cache-control
"no-cache, private"
content-type
"text/html; charset=UTF-8"
date
"Sat, 31 May 2025 02:34:39 GMT"
link
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Cookies

Request Cookies

Key Value
PHPSESSID
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Response Cookies

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Session 6

Session Metadata

Key Value
Created
"Sat, 31 May 25 02:34:18 +0000"
Last used
"Sat, 31 May 25 02:34:37 +0000"
Lifetime
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No flash messages were created.

Server Parameters

Server Parameters

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Key Value
APP_ENV
"dev"
APP_SECRET
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CORS_ALLOW_ORIGIN
"*"
DATABASE_URL
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MARIADB_PASSWORD
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Key Value
APP_DEBUG
"1"
BASE
"/public"
CONTEXT_DOCUMENT_ROOT
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
CONTEXT_PREFIX
""
DOCUMENT_ROOT
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FCGI_ROLE
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GATEWAY_INTERFACE
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HTTPS
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HTTP_ACCEPT
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HTTP_ACCEPT_ENCODING
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HTTP_CONNECTION
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HTTP_HOST
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PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY
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PHP_SELF
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PP_CUSTOM_PHP_INI
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QUERY_STRING
""
REDIRECT_BASE
"/public"
REDIRECT_HTTPS
"on"
REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY
"0"
REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY
"0"
REDIRECT_REDIRECT_HTTPS
"on"
REDIRECT_REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY
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REDIRECT_REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY
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REQUEST_TIME_FLOAT
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REQUEST_URI
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SCRIPT_FILENAME
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SCRIPT_NAME
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SCRIPT_URL
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SERVER_ADMIN
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SERVER_NAME
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SERVER_PORT
"443"
SERVER_PROTOCOL
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SERVER_SIGNATURE
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SERVER_SOFTWARE
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SSL_TLS_SNI
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SYMFONY_DOTENV_VARS
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UNIQUE_ID
"aDpqv39bcoq1GptgowUf3gAAAJc"

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CookieController :: renderAnalysis (token = 12d2d2)

Key Value
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"App\Controller\CookieController::renderAnalysis"
_format
"html"
_locale
"en"
_stopwatch_token
"c2a10f"

AppController :: renderHeader (token = 1530fa)

Key Value
_controller
"App\Controller\AppController::renderHeader"
_format
"html"
_locale
"en"
_stopwatch_token
"70cdee"
slug
"home"

ArticleController :: trendingArticle (token = 311407)

Key Value
_controller
"App\Controller\ArticleController::trendingArticle"
_format
"html"
_locale
"en"
_stopwatch_token
"97557a"
category
"Global Economy"

ArticleController :: relatedArticles (token = c1b227)

Key Value
_controller
"App\Controller\ArticleController::relatedArticles"
_format
"html"
_locale
"en"
_stopwatch_token
"64f7ef"
current_article
App\Entity\Article {#1094
  -id: 10888
  -title: "Did Antitrust Really Used to Be So Tough?"
  -slug: "did-antitrust-really-used-to-be-so-tough"
  -introtext: "<p>There’s a current argument that the antitrust enforcers at the US Department of Justice and the Federal Trade Commission used to be really tough on big business, at least from the 1940s into maybe the 1970s.</p>\r\n"
  -content: """
    \r\n
    <p>But then there was a counterrevolution, often referred to as “Chicago school,” which provided a justification for the legal system to retreat from tough antitrust enforcement, and since then corporate power has run unchecked. This pocket history is far too glib.&nbsp;<a href="https://www.cambridge.org/core/journals/business-history-review/article/history-and-turning-the-antitrust-page/DD931B2B209156ACBA1B9BEC4A54A30B" target="_blank" rel="noopener">Brian R. Cheffins provides some relevant background about those supposed good old days of tough antitrust in “History and Turning the Antitrust Page”&nbsp;</a>(<em>Business History Review</em>, Winter 2021, 95:4, pp. 805-821). Here are a few points that occur to me in reading it.</p>\r\n
    <p>1) As a matter of history, it’s not clear that antitrust enforcement was exceptionally active from the 1940s into the 1970s. Think of some of the giant US companies back around 1970: General Motors, Standard Oil of New Jersey (which was later renamed as Exxon), General Electric, IT&amp;T, US Steel, Dupont, and others. Those firms had been around for a long time, and the antitrust authorities had not broken them up. When I was first learning some economics in high school in the late 1970s, one of the best-selling books was&nbsp;<em>Global Reach: The Power of Multinational Corporations</em>.</p>\r\n
    <p>In the Business History Review essay, Cheffins points out that back in the 1960s in particular, there were plenty of complaints that antitrust wasn’t nearly strong enough. One prominent example was “Richard Hofstadter’s well-known 1964 essay “What Happened to the Antitrust Movement?” Hofstadter argued that because of `growing public acceptance of the large corporation,’ antitrust was `a faded passion’ that had become `specialized, and bureaucratized.'” The Kennedy and Johnson presidential administrations sometimes talked a big game on antitrust, but didn’t actually do much. Cheffins continues:</p>\r\n
    <p style="padding-left: 30px;">Humorist Art Buchwald speculated in a 1966&nbsp;<em>Washington Post</em>&nbsp;column that by 1978 all corporations west of the Mississippi River would have merged into a single corporation, that the same would have happened east of the Mississippi, and that the two companies wouldsoon be looking to merge so there would be only one corporation in the United States. Those responsible for administering and applying America’s antitrust laws were far from sanguine themselves. Victor Hansen, head of the Antitrust Division from 1956 to 1959, said while in office, “Economic concentration is increasing.” The&nbsp;<em>Wall Street Journal</em>&nbsp;reported in 1961 that “trust-busters are convinced many industries set prices by follow-the-leader techniques.”</p>\r\n
    <p>2) Much of the active antitrust enforcement of the 1950s and 1960s was focused on “horizontal mergers,” which refers to when two companies in the same industry seek to merge. This is different from “vertical mergers,” where a company buys one of its suppliers; it’s different from conglomerate mergers, where two firms in different industries combine; and it’s also different from when a dominant firm uses anticompetitive behavior to ward off actual or potential competitors. The antitrust authorities did win a lot of horizontal merger cases, but on grounds that look a little silly today.</p>\r\n
    <p>One of the prominent cases of the time was the 1966 Supreme Court case of&nbsp;<a href="https://supreme.justia.com/cases/federal/us/384/270/" target="_blank" rel="noopener"><em>United States v. Von’s Grocery Co</em>. (384 U.S. 270)</a>. The Supreme Court described the fact pattern in this way:</p>\r\n
    <p style="padding-left: 30px;">The market involved here is the retail grocery market in the Los Angeles area. In 1958, Von’s retail sales ranked third in the area, and Shopping Bag’s ranked sixth. In 1960, their sales together were 7.5% of the total two and one-half billion dollars of retail groceries sold in the Los Angeles market each year. For many years before the merger, both companies had enjoyed great success as rapidly growing companies. From 1948 to 1958, the number of Von’s stores in the Los Angeles area practically doubled from 14 to 27, while at the same time, the number of Shopping Bag’s stores jumped from 15 to 34. During that same decade, Von’s sales increased four-fold and its share of the market almost doubled, while Shopping Bag’s sales multiplied seven times and its share of the market tripled. The merger of these two highly successful, expanding and aggressive competitors created the second largest grocery chain in Los Angeles … In addition, the findings of the District Court show that the number of owners operating single stores in the Los Angeles retail grocery market decreased from 5,365 in 1950 to 3,818 in 1961. By 1963, three years after the merger, the number of single store owners had dropped still further to 3,590. During roughly the same period, from 1953 to 1962, the number of chains with two or more grocery stores increased from 96 to 150.</p>\r\n
    <p>The US District Court had held that when the two firms combined were 7.5% of the market, the merger did not pose an anticompetitive risk. The US Supreme Court overturned this verdict, essentially saying that antitrust law should focus on preserving single-owner grocery stores and that if there was a trend to more concentration, it should be stopped. The possible benefits to consumers of letting popular (and efficient) grocery store chains expand in a modest way barely gets mentioned.</p>\r\n
    <p>Antitrust enforcement against these kinds of small mergers was highly uneven, and often seemed to depend on underlying political pressures. Moreover, while the antitrust authorities were focusing on small grocery store mergers, the giant firms mentioned earlier mostly went along their merry way. Cheffins writes: “As George David Smith and Davis Dyer maintain in a 1996 essay on the history of the American corporation, `During the 1950s and ’60s, most leading U.S. industrials held their dominant positions in domestic markets without substantial price competition.’ Historian Gabriel Winant agrees, saying, `The postwar years of the 1950s and ’60s were the age of ‘monopoly capitalism,’ as the Marxists then called it, or, less polemically, an era of ‘administered prices.’”</p>\r\n
    <p>3) The shift in antitrust doctrine in the 1970s had other major causes. For example, the late 1970s under the Carter administration were a time of industry deregulation, often led by such congressional Democrats like Ted Kennedy. The 1970s are also a time when the US economy comes under dramatically more pressure from international competition. Cheffins writes:</p>\r\n
    <p style="padding-left: 30px;">In 1991, the&nbsp;<em>Economist</em>&nbsp;focused on foreign competition to explain why America’s trustbusters had become “timid”: “America’s economy is more open today, exposing many big firms to foreign&nbsp;competition. This does not make it impossible for a domestic market to be dominated and then abused, but it is far less likely to happen. If General Motors, Ford and Chrysler were foolish enough to conspire to fix prices, they would quickly lose&nbsp;market share&nbsp;to Toyota, Volkswagen and Hyundai, at home as well as abroad.” The rise of foreign competition dovetailed with the intellectual trends in operation to reshape thinking about antitrust. … The percentage of goods that Americans used that were imported increased from 8 percent in 1969 to 21.2 percent in 1979. By the end of the 1970s, over 70 percent of goods produced in the United States were actively competing with foreign-made goods. As the 1980s got underway, foreign competition had sideswiped various major industries, including apparel, automobiles, footwear, shipbuilding, steel, and televisions. Moreover, concerns were growing that American business was stumbling in response to the challenge foreign firms were posing.</p>\r\n
    <p>As foreign competition rose, the idea that US firms lacked competition in a way that called for aggressive antitrust enforcement diminished.</p>\r\n
    <p>4)&nbsp;<a href="global-economy/industry-concentration-is-it-rising-overall?no-scroll=true" target="_blank" rel="noopener">It’s not obvious that concentration is in fact substantially higher in most industries today than it used to be.</a>&nbsp;It is quite possible to argue that greater antitrust activity might be warranted for some companies like Amazon, Alphabet (formerly Google) Microsoft, Apple, or Facebook (now Meta), or for specific situations like certain mergers between local hospitals, but not to believe that the US economy is dramatically more concentrated than in the past. As one example, Berkeley economics professor&nbsp;<a href="global-economy/some-peculiarities-of-labor-markets-is-antitrust-an-answer" target="_blank" rel="noopener">Carl Shapiro (who was a member of Council of Economic Advisers and also a Deputy Assistant Attorney General in the Antitrust Division of the US Department of Justice during the Obama administration)</a>&nbsp;has taken a skeptical view of the idea that US industry concentration is up overall, while still advocating for targeted antitrust interventions for certain companies and situations.</p>\r\n
    <p>5) My own view is that some of the most interesting antitrust actions of the earlier era were not about breaking up large companies, which didn’t much happen, and not about the many efforts to prevent small-scale horizontal mergers. Instead, the antitrust efforts more perhaps more applicable to today were to take a close look at how companies may use from using intellectual property protection to constrain competition.</p>\r\n
    <p>As one example, it was fairly common practice i<a href="global-economy/limits-for-corporate-bigness-on-acquisitions-patents-and-politics" target="_blank" rel="noopener">n the 1940s and 1950s for the antitrust authorities to require firms to offer “compulsory licenses” to their intellectual property</a>: that is, a firm could not use its intellectual property to shut off potential competitors. Perhaps the best-known case happened&nbsp;<a href="global-economy/patents-and-competition-thomas-edison-xerox-bell-labs-medtronic" target="_blank" rel="noopener">in 1956, when Bell Labs signed a consent decree that required it to put all of its patents in the public domain</a>–a step that many industry insiders credit with allowing the birth of the US semiconductor industry. In another prominent case in 1973,&nbsp;<a href="global-economy/the-return-of-the-patent-thicket" target="_blank" rel="noopener">antitrust authorities found that the Xerox corporation was using an ever-evolving and ever-expanding array of patents to block entry</a>&nbsp;into the photocopier market.&nbsp;In the context of the giant modern tech companies, a related proposal is that antitrust authorities&nbsp;should beware when large companies buy smaller ones that could have grown into viable competitors.</p>\r\n
    <p>Just to be clear, there’s no question in my mind that prevailing antitrust doctrine did shift in the 1970s in a direction that was less aggressive. But the ideas that antitrust enforcement of the 1960s was especially active, or that it mostly focused on breaking up big companies, just don’t seem correct. In addition, the shift to less active antitrust was not just an ideological/political lighting bolt from a blue sky, but happened in response to factors like the previous antitrust focus on smallish horizontal mergers and the rise in international competition in the 1970s. The lessons of that earlier time of antitrust regulation are more nuanced, and at least in my view, the most useful lessons for our time are focused on issues related to how competition and mergers interact with intellectual property and potential future competitors.</p>
    """
  -user: Proxies\__CG__\App\Entity\User {#1092 …}
  -createdAt: DateTime @1646037436 {#1145
    date: 2022-02-28 08:37:16.0 UTC (+00:00)
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  -updatedAt: DateTime @1646056219 {#1150
    date: 2022-02-28 13:50:19.0 UTC (+00:00)
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  -category: App\Entity\Category {#445 …}
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  -reviewed_at: DateTime @1646037436 {#1148
    date: 2022-02-28 08:37:16.0 UTC (+00:00)
  }
  -metakey: "Did Antitrust Really Used to Be So Tough?"
  -metadesc: "There’s a current argument that the antitrust enforcers at the US Department of Justice and the Federal Trade Commission used to be really tough on big business, at least from the 1940s into maybe the 1970s."
  -robots: null
  -publishedAt: DateTime @1646037436 {#1147
    date: 2022-02-28 08:37:16.0 UTC (+00:00)
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ArticleController :: relatedArticles (token = a6ae3f)

Key Value
_controller
"App\Controller\ArticleController::relatedArticles"
_format
"html"
_locale
"en"
_stopwatch_token
"a4f2f0"
current_article
App\Entity\Article {#1094
  -id: 9563
  -title: "Metal Fabrication: An Introduction to Manufacturing Metal Parts"
  -slug: "metal-fabrication-an-introduction-to-manufacturing-metal-parts"
  -introtext: "<p>Metals like aluminum, titanium, iron, and nickel are the building blocks of modern society - making up innumerable objects that are part of our daily lives.</p>\r\n"
  -content: """
    \r\n
    <p>From extremely hard to highly malleable, these elements possess different properties that require specific technologies and manufacturing approaches. These are also known as <a href="https://www.bbc.co.uk/bitesize/guides/zfp7nrd/revision/1" target="_blank" rel="noopener">metal fabrication</a>.</p>\r\n
    <p>By a simple definition, metal fabrication is the manufacturing process for shaping metal into parts and end products. From connecting parts like <a href="https://www.huyett.com/knowledgevault/product-faqs/engineered-fasteners" target="_blank" rel="noopener">engineered fasteners</a> to large machinery like airplanes, metal fabrication is responsible for items in almost any industry and every domain of our lives. Similarly, metal fabrication shops worldwide dedicate their expertise to anything from mass-produced products to customized parts.</p>\r\n
    <p><img src="/images/An_Introduction_to_Manufacturing_Metal_Parts.png" alt="An_Introduction_to_Manufacturing_Metal_Parts.png" width="602" height="401" /></p>\r\n
    <p>There are several processes involved in metal fabrication, the usability of which depends on the type of metal and product. Each process often falls into one of two main categories: removal and deformation. Below we’ve compiled a detailed overview of some of these various processes and their significance.</p>\r\n
    <h2>Removal Processes</h2>\r\n
    <p>One of the main ways metal fabrication is achieved is by removing a sizable part from a metal workpiece. Different removal processes produce different results. Some of these include:</p>\r\n
    <h3>Machining</h3>\r\n
    <p>Suitably referred to as the foundation of metal manufacturing, machining is a subtractive shaping process that removes leftover metal to create a form. Over the past 150 years, machining tools have evolved from crude pulley and steam-driven mechanisms to the advanced, ultra-precise computer numerical control (CNC) machining equipment of today.</p>\r\n
    <p>There are several different methods that produce <a href="https://www.3erp.com/services/cnc-machining/cnc-milling/" target="_blank" rel="noopener">CNC parts</a>, such as milling, drilling, and turning. Milling is one of the most common methods, which involves multi-point cutting tools that remove metal from the workpiece.</p>\r\n
    <h3>Punching</h3>\r\n
    <p>Punching is used for making cut-outs of various shapes. A punch-and-die tool works similarly to a large pair of scissors; it uses pressure to produce the desired shape and remove the excess material. The method can be used for making various shapes and sizes, but the punched holes are most often geometric shapes like circles, squares, or rectangles. Once punched out, the shape is thrown out, and the sheet is kept as the final product.</p>\r\n
    <h3>Blanking</h3>\r\n
    <p>If, on the other hand, the punched-out piece is to be used for the design, the method that is employed is blanking. This method is often used to produce multiples of the same shape from a larger sheet of metal. Such examples include the creation of jewelry, watch components, and clock gears.</p>\r\n
    <h3>Cutting</h3>\r\n
    <p>Cutting involves the separation of a metal workpiece - either partly or entirely - into two or more sections and is among the most versatile fabrication processes. It is known for producing clean and straight cuts through the metal workpiece.</p>\r\n
    <p>On the surface, it may appear like the method involves nothing more than cutting large pieces of metal into smaller bits - but it is a rather intricate process that involves lasers, power scissors, waterjets, and plasma for the production of precise cuts.</p>\r\n
    <p><img src="/images/precise_cuts.png" alt="precise_cuts.png" width="601" height="370" /></p>\r\n
    <h2>Deformation Processes</h2>\r\n
    <p>Unlike removal, deformation alters the material instead of removing its parts. As such, it is often used to create 3-D shapes. Some of the ways metal materials can be deformed are listed below.</p>\r\n
    <h3>Bending</h3>\r\n
    <p>The bending process - which alters the shape of the material - is often performed with a hammer whose wide and flat head is suitable for the deformation of the piece. While some hammers are handheld, others are connected to a machine. The latter type, also known as a powered hammer, is used for applying more force to the metal.&nbsp;</p>\r\n
    <p>Bending can also be done with the use of a press brake - a machine that is used specifically for bending metal workpieces like sheet metal.</p>\r\n
    <h3>Extrusion</h3>\r\n
    <p>Extrusion is a process that yields objects with a fixed cross-sectional shape, in which the metal (either hot or cold) is forced through a die with the desired cross-section.&nbsp;</p>\r\n
    <p>Its main advantages over other manufacturing methods are its ability to form complex cross-sections and do so with rigid materials since the material is placed under high compressive stress. It also gives a high-quality surface finish and allows for considerable freedom in the design process.</p>\r\n
    <p><img src="/images/freedom_in_the_design_process.png" alt="freedom_in_the_design_process.png" width="600" height="333" /></p>\r\n
    <h3>Deep Drawing</h3>\r\n
    <p>This process is often used for more malleable metals such as copper, aluminum, or brass. Deep drawing will stretch the material while a tool applies pressure on the sheet; the result is a material in a cup-like form. Cans, pots, cups, kitchen sinks, and fuel tanks are all examples of deep drawing metal fabrication.</p>\r\n
    <h3>Spinning</h3>\r\n
    <p>Spinning, or spin forming, is a process where a metal disc or tube is rotated at high speed to form an axially symmetric part. It can be performed by hand or with the use of a CNC lathe. Common spinning applications include cookware, satellite dishes, musical instruments, and rocket nose cones.</p>\r\n
    <h2>Final Words</h2>\r\n
    <p>Due to its complexity and versatility, metal fabrication has numerous applications across products and industries. However, it is imperative that <a href="technology/ai-in-additive-manufacturing" target="_blank" rel="noopener">manufacturers</a> fully comprehend the processes and materials involved due to their unique and detailed characteristics.</p>\r\n
    <p>Generally, metal fabrication methods belong to one of two groups: removal and deformation. Processes that incorporate the removal of materials include machining, punching, blanking, and cutting. On the other hand, deformation processes alter the shape of the materials with methods like bending, extrusion, deep drawing, and spinning, among others.</p>\r\n
    <p>This introduction should give you a preliminary idea of the workings and applications of these methods.</p>
    """
  -user: Proxies\__CG__\App\Entity\User {#1092 …}
  -createdAt: DateTime @1631886623 {#1145
    date: 2021-09-17 13:50:23.0 UTC (+00:00)
  }
  -updatedAt: DateTime @1631886712 {#1150
    date: 2021-09-17 13:51:52.0 UTC (+00:00)
  }
  -deletedAt: null
  -category: App\Entity\Category {#445 …}
  -status: "published"
  -imageCard: Proxies\__CG__\App\Entity\File {#1184 …}
  -ImageHeader: Proxies\__CG__\App\Entity\File {#1184 …}
  -featured: false
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  -clicks: 5971
  -comments: Doctrine\ORM\PersistentCollection {#1125 …}
  -reviewed_at: DateTime @1631886623 {#1148
    date: 2021-09-17 13:50:23.0 UTC (+00:00)
  }
  -metakey: "Metal Fabrication: An Introduction to Manufacturing Metal Parts"
  -metadesc: "Metals like aluminum, titanium, iron, and nickel are the building blocks of modern society - making up innumerable objects that are part of our daily lives."
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  -publishedAt: DateTime @1631886623 {#1147
    date: 2021-09-17 13:50:23.0 UTC (+00:00)
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CookieController :: renderCookie (token = 66421a)

Key Value
_controller
"App\Controller\CookieController::renderCookie"
_format
"html"
_locale
"en"
_stopwatch_token
"66aed4"