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U.S. history : civil war-present - Assignment Example

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The economy changed drastically during the late nineteenth century. The expansion of railroad joined the country together into one market where goods could be shipped and sold across the country. The railroads also provided economic growth since it provided a large market for…
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U.S. history : civil war-present
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Download file to see previous pages This affected many industries, and economic power was held by less people as time went on. We can see this in the image of JP Morgan. Only certain people had power and were able to have an effect on prices of different industries. Many companies were monopolizing the industries causing prices to increase, as we can see in the image where we see the people with trusts are in charge and everyone has to be subjected to whatever they decide. Overall, the power of the trusts, or businesses caused many smaller businesses to fail. This cause many social and economic problems.
From the above it is clear that monopolies ruled in industries and they owned the factors of the economy. This caused many laborers to lack good salaries and as the industries grew, people formed unions to protect them from the monopolies. The poor are left helpless as they cannot afford much as the monopolies set the prices of everything in the markets.
2. During this time in American history anti-trust laws were yet to be instituted and the results were the rise of massive companies that would destroy any competition they would come across. I believe the first image to depict JP Morgan’s control over the various industries that he did control and his desire to buy more companies. It depicts JP Morgan literally dragging the railroad and steal companies while showing his desire to constantly buy more business as a mechanism to have more social power. In the image we can see JP Morgan walking towards the for sale sign of the shipping boats. I believe the second image to depict the effects that the trust had on society, giving large amounts of power to a small number of people and making the public vulnerable to those powers. It elucidates the business moguls’ domination of the working class and shows how vulnerable the business class was. The third link illustrates the living conditions of the poor people who were living in manhattans during the late 19th century. The link ...Download file to see next pagesRead More
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