Dbq Monopolies In The 19th Century

673 Words3 Pages
In the late 19th century, monopolies were formed, allowing competition to be scarce and a risk for the government. However, due to the ability to expand, have great efficiency and success in business, and have corruption, the monopolies impacted the economy. Therefore, the monopolies that developed during this time were both harmful and beneficial to the economy of the United States. Monopolies kept on expanding across the country. Some of these included John D. Rockefeller’s Oil Company and Andrew Carnegie’s Steel Industry. These monopolies took great control of the economy at that time because of how large they were. Many wanted to continue expanding outside of the country and explore larger amounts of wealth. Rockefeller argued that it was a necessity because of its great advantage for the company and also the economy. (Doc 2) This would…show more content…
During this time many people accomplished more than they could dream of. Some of these people included George Westinghouse, who did many accomplishing things in his life was one who also be called an engineer. (Doc 4) Success during this time could have been called luck, or even taking advantage of the right opportunity. Many argued in society that the rich should give back to society because they should, but these monopolists had different thoughts. They believed that a person should not be enforced to give money to society, instead they should because it is the right thing to do. (Doc 1) A person that was wealthy would donate during this time because it would be beneficial to society by “doing for them better than they would or could for themselves.” (Doc 1) Success for the individual would be great because it would boost the economy because of people being able to achieve their dreams, which would be a ongoing effect because this would bring in more people to the United States. Also because these rich businessmen would give back to the people and help boost the

    More about Dbq Monopolies In The 19th Century

      Open Document