Throughout the late nineteenth century, businesses became larger creating entrepreneurs. Some might say that these big businessmen should be considered robber barons because when monopolies were legal, they used them to eliminate other businesses so they would not have competition (Stiles). Even though some might argue this, why were monopolies bad? For certain items like railroads, oil, and more it did not make sense. More competition for these industries would mean more money than necessary would be spent. Economically speaking, why should two companies spend a large amount of initial money to invest and start a new company where a larger and more developed company already has business from society with lower prices. They did not eliminate their competition through unethical ways. America’s economy is based around the Capitalism system. In this system, entrepreneurs are able to operate there business at the prices and wages the owner feels is correct. Within this system the laissez-faire, which allowed entrepreneurs to run businesses without the government intervening. Although some people believed at this time all businesses should have a fair chance, same abilit...
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... the Panic of 1893 | J.P. Morgan." Morgan Helps End the Panic of 1893 | J.P. Morgan. N.p., n.d. Web. 12 Jan. 2014.
Myers, Gustavus. "Humanity of No Consequence." History of the Great American Fortunes. Vol. 1. Honolulu: University of the Pacific, 2002. 219-23. Print.
Chapter / AnthologyCommentsTagsEditDelete
"Our Focus." : The Rockefeller Foundation. N.p., n.d. Web. 11 Jan. 2014.
"Panic of 1893." Panic of 1893. N.p., n.d. Web. 10 Jan. 2014.
Poole, Keith. "American Experience: TV's Most-watched History Series." PBS. PBS, n.d. Web. 09 Jan. 2014.
Stiles, T.J. "Robber Barons or Captains of Industry?" The Gilder Lehrman Institute of American History. The Gilder Lehrman Institute of American History, n.d. Web. 12 Jan. 2014.
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