Name two ways that the federal government tried to regulate business in the late 1800s. Do you think these regulations achieved their goals? Explain your answer
http://www.jiskha.com/social_studies/us_history/government_aid_to_businesses.html
This is one major way:
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4VRHB_enUS648US649&q=sherman+anti+trustact
For a broader view of the Progressive Era:
http://www.google.com/search?sourceid=navclient&aq=&oq=progressive+era%2c+1890s&ie=UTF-8&rlz=1T4VRHB_enUS648US649&q=progressive+era+1890+to+1920+&gs_l=hp..0.0i22i30l2.0.0.2.276304...........0.NDwthwpEHek
Two ways that the federal government tried to regulate business in the late 1800s were through the Sherman Antitrust Act and the Interstate Commerce Act.
1. The Sherman Antitrust Act, enacted in 1890, was designed to prevent the formation of monopolies and promote fair competition. It outlawed contracts, combinations, or conspiracies in restraint of trade and any monopolization or attempt to monopolize commerce. This act allowed the government to take legal action against corporations that engaged in anti-competitive practices. Its goal was to protect consumers and ensure a level playing field for businesses.
2. The Interstate Commerce Act, passed in 1887, regulated railroad companies that operated in multiple states. It established the Interstate Commerce Commission (ICC), which monitored and regulated rates charged by railroad companies and addressed other unfair practices. The main objective of this act was to prevent discrimination in rates, practices, and services by railroad companies.
Regarding whether these regulations achieved their goals, the answer is somewhat complex. The effectiveness of these acts in achieving their goals varied.
The Sherman Antitrust Act had mixed results. Initially, it was not particularly successful in curbing the power of large corporations and enforcing antitrust regulations. However, it laid the legal groundwork for future antitrust laws and subsequent efforts to regulate business practices. Over time, as more presidential administrations actively enforced the act, it became a powerful tool against monopolistic practices.
Similarly, the Interstate Commerce Act faced challenges in achieving its intended goals. Initially, the ICC lacked sufficient authority and faced resistance from the railroad companies it was meant to regulate. Yet, the act was an important step toward federal regulation of business practices and helped set the stage for future government oversight.
Ultimately, while both acts faced initial limitations, they established significant precedents and laid the groundwork for further regulation of business practices. Over time, subsequent acts and amendments built upon these initial efforts and played a crucial role in shaping the business environment of the 20th century. Therefore, despite not fully achieving their goals initially, these regulations played a vital role in the development of future regulatory frameworks.