Effects Of Monopolies In America During The Late Nineteenth Century

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Monopolies in America during the late nineteenth century held various effects on the nation’s economy. They increased the amount of jobs for the struggling, provided necessary capital, and introduced new inventions that are still used today. On the other hand, monopolies continued the spread of corruption in enterprise.

The creation of monopolies brought forth multiple benefits for the country. Rockefeller stated that with monopolies came expansion of business. More business meant more openings and positions for workers. It also gave good wages for the workers. Carnegie believed that the leadership of monopoly owners provided workers with: wisdom, experience, and a trustee. Another benefit was the generation of capital. Since production