Essay about A Progressive Era Of The Modern Economy

Essay about A Progressive Era Of The Modern Economy

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In a progressive era from 1900 to around 1920, monopolies and trustbusting were the source of dispute among government, businesses, and society. According to “Progressives and the Era of Trustbusting,” “monopolies were seen as an inevitable part of the modern economy” (6). Trusts also known as monopolies drove small/weak business out of function, they would purchase or drive business to bankruptcy in order to eliminate their competition; in the end the mission of monopolies, was to obtain larger and powerful corporations. Larger Corporations created by monopolies, also held a higher need for employees. A monopolistic corporation obtained an extensive amount of power, a powerful firm, which held benefits against the international business competition. Constant Federal Regulation served as a deterrent to prevent monopolies from becoming corrupt. Roosevelt’s idea to federally regulate monopolies would not only maintain trusts under control, but also highlight the benefits of good monopolies, instead of completely deteriorating them.
Monopolistic corporations require a higher need for employees in order to accomplish properly and fast paced product distribution to consumers. Roosevelt as mentioned in the article “Progressives and the Era of Trustbusting”, “held the view that “good” monopolies benefited the public with efficient distribution of new products.”(5) In an era where the economy was beginning to fully carry out with productivity modernization, a search for employees was a must, for those that had exposed new inventions. Inventions which were now being rapidly purchased raising the rate and level of productivity to higher standards. Roosevelt from his perspective understood that with the continuation of good mo...

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...mately, all record books, prices, and account assets would be under the close observation of the government.

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In conclusion Roosevelt preference for government regulation of monopolies over trustbusting was due to his focus on not only the negativity and corruption they held. Accordingly Roosevelt instead analyzed the pros and cons of what benefits they would obtain, if they gave monopolies an opportunity to become part of the economy, without such negative perceptions of their use. Monopolies themselves were not negative, most of the time; it was the people in charge, who drove towards negativity by imposing nothing less than their own benefits over all. Regulation was the key and as Roosevelt proposed the interstate commerce commission to be in charge of taking such task; nevertheless his stand was not only implied but also supported by his suggestions.

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