Economic Problems and Corporate Monopolies in Late 19th Century America
1. Economic Problems
●Corporate Trusts- Large Businesses developed
monopolies and trusts(combining businesses)
destroying competition.
●Unemployment- The large influx of European
immigrants, southern farmers and African
Americans into big cities led to unemployment.
This forced many to work for low wages in unsafe
conditions to stay employed.
2. KNOW THESE TERMS!!!
Laissez-Faire: A policy of minimum governmental interference in the economic
affairs.economies function most efficiently when unencumbered by government
regulation
Social Darwinism: The theory that life of humans in society was a struggle for
existence ruled by “survival of the fittest,”. Darwin’s theory of natural selection was
applied to social, political, and economic issues. Used to justify wealth and power.
Monopoly: In a monopoly, one or more persons or companies totally dominates
an economic market. The owners of a monopoly have the power to set prices, to
exclude competitors, and to control the market.
Trust: A trust is when competing companies in an industry join together to control
the industry. They form a monopoly.
