Between 1870 and 1900, the United States experienced a period of unprecedented economic growth, largely fueled by the rapid expansion of corporations. This era, known as the Gilded Age, saw corporations grow significantly in number, size, and influence. The rise of big business has transformed the U.S. economy, spurring industrialization and technological advancement. However, this rapid corporate growth also led to significant political and social tensions. As large corporations came to dominate industries such as steel, oil, and railroads, their influence began to reshape the political landscape and spark responses from various segments of American society. The growth of big business has had a profound impact on the U.S. economy. Corporations were able to increase production at unprecedented rates due to new technologies, innovations like the assembly line, and the consolidation of resources. Industrial magnates like Andrew Carnegie, John D. Rockefeller, and J.P. Morgan created monopolies and trusts, which allowed them to control entire industries and eliminate competition. This led to lower consumer prices in some cases, but it also concentrated wealth in the hands of a few and led to a widening gap between the rich and the poor. Workers often faced harsh conditions, long hours, and low pay as corporations …show more content…
Through lobbying and campaign contributions, businesses were able to sway politicians to pass favorable legislation. The government's laissez-faire attitude toward regulation during this period allowed businesses to operate with little oversight. Corporations often used their influence to suppress labor movements and undermine attempts at reform. For example, the Sherman Antitrust Act of 1890, which was intended to curb monopolistic practices, was initially ineffective due to corporate interference and weak