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The Debate on Trusts: Championing Competition vs. Containing Monopolies

This text explores the contentious issue of trusts in the economy, highlighting how monopolies reduce competition and allow companies to keep prices high. It addresses the challenges new companies face against powerful incumbents, the widening gap between the wealthy and the poor, and the political influence of big corporations. Despite these concerns, the growth of large corporations has also led to lower production costs and improved living standards. The contradiction between promoting free enterprise and regulating monopolistic practices reflects ongoing tensions in the economic landscape.

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The Debate on Trusts: Championing Competition vs. Containing Monopolies

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  1. FOR trusts AGAINST trusts • 1. Trusts/ monopolies reduce competition • Without competition there’s no reason for companies to keep prices low or ________________ • 2. Hard for new companies to compete with powerful ______________ • 3. Few Fabulous Wealthy vs. Majority Wretchedly Poor • Political influence & wealth can • sway people in power to buy or • neglect certain companies • Too much ________________ruins • businesses & puts people • out of work • 2. Growth of giant corporations brought • - Lower production costs • - ___________________________ • _________________________ • 3. Better ___________________________ • for millions of Americans • By1900- Americans enjoy • highest standard of living • in the world Free Enterprise Systems & Trusts Name:_______________________ Free Enterprise System: Businesses are owned by ______________ who decide what to __________, how much to produce & what ___________to charge • *GOOD for entrepreneurs starting out* • **CONTRAVERSIAL for our fat cats** • - Many thought leaders of __________________ were abusing the free enterprise system • - Companies compete to win customers by making the best ___________at the lowest __________ • ______________________________ • 1890- banned formation of trusts and monopolies • - Too weak to be effective since it • spanned the whole nation • - Some state gov’ts passed laws to regulate, but powerful, rich corporations side-stepped them

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