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Essay / Research Paper Abstract
During 1870 – the First World War giant corporations, also called big business, initiated radical changes in the U.S economy, society, and politics. This paper 3 page paper briefly defines these corporations and looks at what made these firms efficient, why Americans objected to big business and who objected and the response of the government. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TE1890us.rtf
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war ended in 1865, and as such there is the room for a period of recovery and growth. the period between 1865 and 1900 is often referred to as the
gilded age, a term used by Mark Twain and Charles Dudley Warner to infer the high level of corruption of the time (Hakim, 2002). It was during this time
that big corporation became the dominant paradigm for business. Corporation were defined as large business entities that had their own identity, and as such could undertake contracts as well as
be sued separately from their owners. The structure was usually one of multiple shareholders (Hakim, 2002). These corporation were made efficient due to the changes which were taking place with
technology, such as better transportation systems to carry large quantities of goods speedily, for example the railroad, and better communications. With a group of investors larger companies could form and
take advantages of the economies of scale, which the infrastructure could now handle. Other business changes, such as the development of mass marketing and ability to develop lines to be
sold nationally all placed large corporations in a strong position (Hakim, 2002). The power was also increased due to the political infrastructure, with presidents. In addition having only limited
power and little regulation in existence to hold these companies back. In addition there was also corruption at local levels, with machine politics, examples such as Mark Tweed who rigged
elections and sought to make a profit from the practice. The corporation held the power, and as such the workers held little, either in the workplace or in the ballot
box, this is shown clearly in works such as Thomas Bells novel; Out of This Furnace (Bell, 1976). In any society where there is corruption and power is held
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