Social Darwinism was embraced by leaders of American business and big companies. Powerful corporations earned tons of money due to the American economic system of free enterprise incorporating the concept of Laissez Faire - which allowed big businesses to operate in competition with one another free of state control and government intervention. The Laissez Faire concept relied on supply and demand to determine wages and prices. This was an incredibly profitable enterprise for the wealthy American industrialists who would come to be known as the "Robber Barons". They believed in a dog eat dog philosophy which encouraged ruthless and cut-throat business practices allowing them to make unimaginable amounts of money. During the time of social