Do you think the federal government should have regulated the growth of wealth among the captains of industry, e.g., Cornelius Vanderbilt, Andrew Carnegie, John D. Rockefeller, Henry Flagler, and J.P. Morgan?

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23-08-2022
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Do you think the federal government should have regulated the growth of wealth among the captains of industry, e.g., Cornelius Vanderbilt, Andrew Carnegie, John D. Rockefeller, Henry Flagler, and J.P. Morgan?

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annyksl annyksl · Answer 1 · 2022-08-25T14:28:36+02:00

The federal government should have regulated the growth of wealth among the captains of industry to reduce economic inequality and promote fairer trade.

Why would this regulation be positive?

Because it would decrease the accumulation of wealth.
Because it would reduce social inequality.
Because it would prevent the creation of monopolies.
Because it would promote fair trade.

The accumulation of wealth by the captains of general industry is a strong social and commercial inequality. This is because the wealth of the country became centralized in a few families, while most American families had little or no access to this wealth.

Furthermore, the accumulation of wealth gave great commercial power to the captains of industry, causing them to dominate commerce, create monopolies and swallow smaller markets.

For this reason, the regulation of these riches would provide a more egalitarian and just society.

Learn more about monopolies:

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