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State several specific business practices that Rockefeller seems to justify in his comment to his Sunday school class?
Social Darwinism and the establishment of monopolies and trusts.
Why were many people opposed to the creation of monopolies and trusts?
Trusts put smaller competitors out of business using unfair tactics. Trusts could unfairly raise prices since they had no competition. Trusts had too much influence on government officials.
What concerns did critics of big businesses have regarding trusts?
The concerns critics have on big business regarding trusts is that to earn more money trusts often tried to get rid of competition and to control production. The wealth and size of trusts such as standard oil made many Americans fear the influence of business leaders over government.
What were Adam smith's ideas about the free enterprise system?
Adam Smith advocated an entirely free market. That is, no regulation of any sort to businesses, permitting monopolies, businesses agreeing to fix prices, trusts, etc.
Why did powerful capitalists form monopolies and trusts?
The government had to pass the anti trust law to restrict trusts and monopolies to protect the value of the consumer dollars. The Anti trust laws help to promote a free and fair trade marketplace competition.
Who was the President who favored regulation of business and prosecution of trusts?
President Taft
President who favored regulation of business and prosecution of trusts?
Theodore Roosevelt
What were the basic themes or goals of progressivism?
Democratizing government Efficiency & good government Regulation of giant corporations Social justice
Why were people oppose to the creation of monopolies and trusts?
Trusts put smaller competitors out of business using unfair tactics. Trusts could unfairly raise prices since they had no competition. Trusts had too much influence on government officials.
Why was the US government unable to limit the trusts built by businesses like United Fruit?
The U.S. Could not regulate overseas trusts.
State several specific business practices that Rockefeller seems to justify in his comment to his Sunday school class?
Social Darwinism and the establishment of monopolies and trusts.
What has the author Daniel W Hoan written?
Daniel W. Hoan has written: 'The failure of regulation' -- subject(s): Industrial Trusts, Socialism
President T Roosevelt believed that the federal government should adopt a policy of what in regard to trusts?
Roosevelt held the position that the government should be able to regulate trusts. Theodore Roosevelt was the 26th U.S. President.
Why was the Sherman Antitrust Act passed?
The Sherman Anti-Trust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts or business activities that federal government regulators deem to be anticompetitive. It also requires the federal government to investigate and pursue trusts (monopolies).
Why did the government at first hesitate to break up trusts and monopolies?
I don't think it was really malicious. The government just didn't see trusts and monopolies as a problem, even though they were reducing the amount of business activity in the United States.
Why did government at first hesitate to break up trusts and monopolies?
I don't think it was really malicious. The government just didn't see trusts and monopolies as a problem, even though they were reducing the amount of business activity in the United States.
what is antitrust regulation?
Antitrust ~ adj. Opposing or intended to regulate business monopolies, such as trusts or cartels, especially in the interest of promoting competition: antitrustlegislation, antitrust laws
