government was the norm. This form of government favors individual self-interest and competition, and opposes the taxation and regulation of commerce. Laissez faire reached its apex in the 1870s during the age of industrialization as American factories operated with a free hand. A contradiction developed, however, as competing businesses began to merge, resulting in shrinkage of competition.
Clearly the dominant figures of postwar American capitalism were John D. Rockefeller, Andrew Carnegie and J.…
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