Social Studies, 25.01.2020 08:31 darneshar

What were the disadvantages of monopolies during the gilded age and how was it used by robber barons?

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In hindsight, from the Gilded Age monopolists perspective they would say that they have pushed too far with manipulation of prices and thus brought negative reaction and counter measures from the general public. In particular, farmers in the Western country demanded that the government set maximum prices on railroads because monopolist had uncontrolled pricing power. Through the Granger movement they achieved passing of some of the ‘Granger Laws’ and set pricing limit on some services.

This concerned other industries as well. For example, the famous Robber baron Vanderbilt was competing with steamboat monopoly that controlled transportation between New York City and Albany. Using populist rhetoric and peoples line to bring down monopolies, he was trying to pave the way for his own business. Meanwhile, the monopolistic Hudson River Steamboat Association end up paying him a great amount of money so that he would stop doing it.

Answer from: Quest

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Answer from: Quest

question 1

the reasons for the global discontent in the early 1900s were the following:

desire for independence was the main fight of many territories which were still under the control of colonial powers. dissatisfaction with peace terms of wwi . the best example is the case of germany, that was forced by the peace treaties to pay very expensive war reparations to the winners of wwi. some time later, german leaders broke relations and stopped recognizing the authority of those who imposed sanctions on their country, counting with the support of the population that was suffering the important economic consequences of the payment of reparations. overproduction of consumer goods which led to hyperinflation scenarios and very week currencies and economies.

question 2

the reasons for the great depression were the following, and these led to wall street crash in october 1929 and caused the subsequent great recession period.

high personal debt, that ended up with many bankrupt investors. falling stock price as everybody was getting rid of the stocks, many because they could not meet the amounts of money required by the margins that backed their investments.

question 3

italy: led by the fascists and benito mussolini and promised to restore the greatness of the roman empire. germany: led by adolph hitler and the nazi party and conducted anti-jewish riots in austriajapan: was controlled by aggressive military leaders and invaded countries for their resources

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