I've noticed that what triggered it was child labor and the harsh treatment of laborers many of whom were immigrants.
What I want to know is, is this the free market at work? What am I missing here?The sharp rise in economic activity spurred by industrialization and cheap labor contributed to concentrations of economic power among large national corporations and the formation of huge "trusts" as companies sought to eliminate their prime competitors.
Between 1897 and 1904, 4,227 firms merged to form 257 corporations, with the largest merger consolidating nine steel companies to create the U.S. Steel Corp. controlled by Andrew Carnegie. By 1904, 318 companies controlled about 40 percent of the nation's manufacturing output. A single firm produced over half the output in 78 industries.
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