The crucible

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  • Publicado : 15 de diciembre de 2011
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Monopolies
Estefania JuarezPeriod411/16/11
The United States of America has a law that prohibits concentrations of power that interferes with trade and reduce economic competition such as monopolies. But in wasn’t until 1890that this became a legislation act under the name of Sherman Antitrust Act. On the gilded age when entrepreneurs like Andrew Carnegie, Henry Fric and John d. Rockefeller own the business of steel andoil meaning that controlled under monopolies these resources; This economy to expand by opening more and more factories and yes maybe under bad conditions and bad regulations an overwhelming amount ofavailable jobs for the American population. If in that part of the development of American economy monopoly’s would have been proclaimed as illegal the growth of America companies and the strength ofthe steel production could not possible, immigration would have decrease urbanization would never exist and unions would not existed including regulation laws.

Monopolies not only include steelor oil, rail road was also part of the federal regulation of business. In 1887 the Interstate Commerce Act that at the begging was designed to regulate unfair business in rail road industry that was abig part of the economic income of the country it displaced all the way until it tock the charge of regulating economic affairs from the states to the federal government. In some cases, the railroadsabused their power as a result of too little competition. The panic of 1893 would never existed.
This act embraces new and different forms of interstate transportation, including pipelines, water...
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