Answer:
i think its true
Explanation:
Answer:
In hindsight, from the Gilded Age monopolists perspective they would say that they have pushed too far with manipulation of prices and thus brought negative reaction and counter measures from the general public. In particular, farmers in the Western country demanded that the government set maximum prices on railroads because monopolist had uncontrolled pricing power. Through the Granger movement they achieved passing of some of the ‘Granger Laws’ and set pricing limit on some services.
This concerned other industries as well. For example, the famous Robber baron Vanderbilt was competing with steamboat monopoly that controlled transportation between New York City and Albany. Using populist rhetoric and peoples line to bring down monopolies, he was trying to pave the way for his own business. Meanwhile, the monopolistic Hudson River Steamboat Association end up paying him a great amount of money so that he would stop doing it.
The main disadvantages of monopolies during the Gilded Age included price manipulation, exploitative labour practices, and use of anti-competitive strategies. Robber Barons used these monopolies to amass wealth and control. This often led to economic instability and inequality.
The Gilded Age refers to the properous period in the United States History during the late 19th century. It was also a period where monopoly and practices by Robber Barons became prominent. A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. It usually signifies lack of economic competition for goods or services.
One of the major disadvantages of monopolies during the Gilded Age was that they could manipulate prices and decrease the quality of their goods and services because there was limited or no competition. Second, monopolies could practice exploitative labour practices because workers had limited choices for employment. Third, monopolies often employed anti-competitive strategies like predatory pricing to eliminate competitors, thus further solidifying their control.
The Robber Barons such as John D. Rockefeller and Andrew Carnegie used monopolies to aggregate wealth and power. They could make and break markets, influence political decisions, and even shape public opinion to their advantage. However, this often led to economic instabilities and inequalities.
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