The opening of the twentieth century saw individual entrepreneurship in the United States yield to
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finance capitalism
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Prominent business leaders of the late nineteenth century, such as J. P. Morgan,
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despised competition and tried to substitute consolidation and central control whenever they could
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To achieve his stunning reorganization and consolidation of businesses in the late nineteenth century, J. P. Morgan
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at times formed "a community of interest," comprised of a few handpicked directors
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J. P. Morgan acquired the core of what would be the largest corporation in the world when he purchased
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steel interests formerly controlled by Andrew Carnegie
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An oligopoly is
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a competitive business system in which several large companies control production in an industry
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The theory of social Darwinism held that
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progress is the result of competition, and that social reforms and other modes of human interference impede progress
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Andrew Carnegie's message in his gospel of wealth was that
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millionaires are trustees and agents for the poor
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The economic theory of laissez-faire gained political clout in the late nineteenth century in part because
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the Supreme Court increasingly was reinterpreting the Constitution to protect business
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The Supreme Court used a novel interpretation of the Fourteenth Amendment to help big business near the end of the nineteenth century. The Court did this by
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elevating property rights over all other rights
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