Laissez-Faire Government

Words: 833
Pages: 4
Open Document
During this period, people who worked in these new industries had a tough life. These major industries did whatever they needed to do to be in control. The tycoons who ran the businesses were ruthless, competitive, greedy, and selfless. They were after anything that got in their way. A lot of people did not like the way these industries were run, but the tycoons did not care about what others thought. As long as their businesses were still in power and they were getting money, that is all they cared about. The Second Industrial Revolution had some positive effects on the United States, but the negative effects such as harsh working conditions, the laissez-faire government, and competitive working tactics had a bigger impact on the United States. …show more content…
This was called a laissez-faire government. The government wanted the market to be able to adjust itself without the interference of the government (Progressive Era and Economics). The government tried to stay out of the tycoons and the way they ran their industries, but when the Interstate Commerce Act was passed, everything changed. The Interstate Commerce Act was an act that was made to oversee all of the conduct of the railroad industry. When this act was created, the philosophy of upholding a laissez-faire government was challenged. Through all of the terrible acts that the railroad industry made, Congress was given the right to have some regulation over private corporations. This document is also now a model for the future generations to come so they can regulate private businesses well (DocsTeach). Before the government got involved with these major industries, these industries would use competitive tactics against their competitors. Some of the tactics that were considered competitive were cheating stockholders, bribing officeholders, and manipulating the stock market. During the rapid growth of the Gilded Age, there were no restrictions on how a company wanted to run its business. They could raise prices for consumers and control an entire industry if they wanted to. In 1890, the Sherman Antitrust Act was passed. This act restricted any type of trade between the states. This act helped these powerful monopolies become dominant among smaller companies. When smaller companies were introduced, the bigger companies would buy them because of their ability to buy all of the stock shares (The Gilded Age in America). A political cartoon that was made in 1899 shows a wide representation of the major monopolies. Monopoly is drawn as a monster with many legs. The legs all state different industries including steel, subway, electric, and oil. The legs are wrapped around all of the
Show More

Related Documents: Laissez-Faire Government

Laissez Faire Essay

Theses accomplishments would not be possible if the government did not help railroad companies. Laissez faire principles provides companies freedom to develop without the government interfering or helping, but the government defied the very principle they supported. For example, the federal government would try to regulate business affairs to appease the public and regulate the railroad industries power over both the government and the people. And so the federal government infringed on the principle of laissez faire to a moderate extent by…

Words 1375 - Pages 6

Laissez Faire Essay

liberal thought, laissez faire was emerged. This theory was the principle of individualism to human affairs with revenge. A popular view during the 19th century; it was a support for the faith in individual activities. The British economist John Stuart Mill was responsible for bringing this economic custom in his Principles of Political Economy in 1848. He argued against government activity in economic affairs. Laissez-faire was a political and an economic doctrine. Laissez Faire was a policy in which…

Words 494 - Pages 2

Age Of Ideologies Essay

leaders embraced the laissez-faire, or “hands-off” approach, believing that a free market would eventually help every- one, not just the rich. However, one British laissez-faire economist, Thomas Malthus, felt that the population would grow faster than the food supply. As long as the population kept growing the poor would suffer. He opposed any government help including charity and vaccinations. He urged families to have fewer children. Other thinkers sought to modify laissez-faire ideas to justify some…

Words 353 - Pages 2

Laissez Faire Dbq Analysis

working conditions and low wages led to a growing awareness of the relationship between government and democracy, encouraging political participation by the people. Voices from differentiating status and lifestyles sought to rectify working conditions and increase rights through the advocation of laissez faire principles, government intervention, unity among workers, and revolutionary tactics. The ethics of laissez faire became increasingly popular during the 1800s as many began to support the idea of…

Words 677 - Pages 3

Industrialization After the Civil War Essay

Urbanization also came with corruption from political machines, like New York City’s Tammany Hall, who took control of city governments and lined their pockets with money that should have been spent on public works. Tammany Hall was the name given to the Democratic political machine that dominated New York City politics from 1854 to 1954. They were a political force of hegemonic…

Words 1765 - Pages 8

The Struggle Between Natural Selection And Social Darwinism

interference. They viewed life as a competition that “weeded” out the weak thus leaving the strong to flourish. If the government interfered with this “natural selection” than the weak would be able to reproduce and pass their “weak” genes on to the next generation thus tarnishing society. The upperclass and the “robber-barons” liked Social Darwinism because they used it to justify laissez-faire…

Words 430 - Pages 2

Midterm essay

century the government played a significant role in the United States economy. In early parts of the 20th century, the government agreed in the thought of laissez faire which is the quote of saying “Let it be”; government hands off of private business expect to retain law and order. In later parts of the 20th century many organization such as small businesses, farms and labor movements began to ask the government to intrude on their defense. Times in the century that the government was part of include…

Words 728 - Pages 3

Laissez-Faire In The Gilded Age

During the late nineteenth century, America deemed to be thriving. However, with the government’s laissez-faire attitude with dealing with the issues of the economy, and the demand for railways increased, the United States underwent an economic transformation marked by the maturing of the industrial economy. Therefore, a shift of power was indicated from agrarian to commercial interests and rapid extension big businesses. Technological innovations fueled the economic growth in America. During the…

Words 823 - Pages 4

Us History Essay

Prior to progressivism taking root, the country had adopted a policy of laissez-faire, in which the government did not regulate businesses and such. Without regulation, trusts and monopolies soon formed. As evident by the political cartoon, trusts were viewed as the harbinger of death(document A). The forcing of Uncle Sam off the ship symbolized the disgust common citizen viewed the government and its laissez-faire mindset. When the progressive president Theodore Roosevelt came to the scene…

Words 694 - Pages 3

Essay about Chapter 5-Vocab

lead to reforms of government, law, and society. 7. Montesquieu: an early and influential thinker, he studied the government of Europe, from Italy to England. 8. Voltaire: most famous of the philosophes. He defended the freedom of thought. 9. Diderot: Denis Diderot worked for years to produce a 28-volume set of books called Encyclopedias. 10. Rousseau: Rousseau believed that people in their natural state were basically good. He promoted the Social Contact. 11. Laissez faire: allowed business…

Words 613 - Pages 3