Monopolies In The 19th Century

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In What Way Was the Development of Monopolies in the Late 19th Century beneficial to the US Economy, and in What ways did it Harmful?

Intro:

Andrew Carnegie and George Westinghouse were men of great businesses who eventually paved their own ways to create huge companies. Andrew Carnegie built his company by buying other companies and George Westinghouse expand his company without buying companies, both men expanded their company greatly. Although they made really good profit, their companies affected many other companies who tried to compete against them. Despite their best effort, the small companies failed and fell into the hands of monopolies.

Thesis:

A monopoly in the late 19th century was thought of a splendid …show more content…
An example of this is that as the people who run the company get good money with their workers. In the case of the two men, Andrew Carnegie and George Westinghouse, they had a really strong company that would not only help the economy grow, but also they could also help out the people with their basic needs. Andrew Carnegie ran a steel company which could be used to build railroads, building, and anything that needed steel. This help him gain the money to take out his rivals and serve the good people of there needs of traveling and living. Westinghouse invented the railroad air brakes which helped the trains become much more ungraded and functional. This helped the people with their traveling as people could now safely to travel in trains much better. Not only did he invent and sell railroad air brakes, he also got electricity running all over town. Now, people were able to do the necessary things to do or finish. These men helped the technology around us grow wider. Without monopolies, we wouldn’t have been provided with much goods such as water, clothing, nor would we having electricity in which the Westinghouse Electricity Co help us with. And may be elimination rivals isn’t so bad for the economy. In that way, not only do the workers get money, but governments get taxes as well. Furthermore, people aren’t always against each other which make the horizontal and the vertical integration not so bad. Companies and people would be more in peace within the country and money wouldn’t be fought
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