The idea that successful businesses (the “fit”) deserve to gain all they can, without contributing to the common good, and that the disadvantaged are where they are basically because of their own shortcomings (weakness) was known in the early 20th century as
Social Darwinism?
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The idea you are referring to was known in the early 20th century as Social Darwinism.
Social Darwinism is a social theory that applied Charles Darwin's theory of natural selection to human society. It suggested that just as in nature, where stronger and more fit individuals survive and thrive while weaker individuals perish, the same logic should apply to human societies and economies. According to this theory, successful businesses and individuals were considered "fit" and deserving of their success, while the disadvantaged were seen as "weak" and responsible for their own disadvantaged positions.
To understand the concept better and its historical context, you can explore the writings of Herbert Spencer, an influential philosopher and sociologist who coined the term "survival of the fittest" and strongly advocated for the principles of Social Darwinism. Another important figure associated with Social Darwinism is William Graham Sumner, who believed in the laissez-faire approach to economics, where the government should not interfere in the affairs of businesses.
It is worth noting that Social Darwinism has received significant criticism over time due to its tendency to justify inequality and social injustices, as it places the blame on individuals rather than considering structural factors that contribute to disadvantage.