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Published byJocelin Dixon Modified over 6 years ago
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How did the U.S. government attempt to regulate big business?
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Carnegie Steel Company
By the late 1800s, many companies were becoming monopolies by controlling or dominating their industries. Carnegie Steel Company
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Business leaders created monopolies by forming trusts, which eliminated competition through the combination of businesses. John D. Rockefeller
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The U.S. government ignored such actions at first, until growing criticisms forced political change.
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The Interstate Commerce Act was passed in 1887 to regulate railroads.
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This law set up the Interstate Commerce Commission, an agency that forced railroads to charge fair rates for all customers.
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The Sherman Antitrust Act was passed in 1890 to regulate big business by prohibiting monopolies.
Standard Oil Company
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However, many companies got around this law and it was not strictly enforced until the early 1900s.
Conglomerates today
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