Final answer:
Big business helped the growth of the American economy in the early 1900s through increased industrialization and innovation, but critics raised concerns about concentration of power, unfair practices, and negative impact on workers.
Step-by-step explanation:
Big business played a significant role in the growth of the American economy in the early 1900s. It led to increased industrialization, innovation, and economic productivity. Companies like US Steel, Standard Oil, and General Electric dominated their respective industries, stimulating economic growth and creating jobs.
However, critics saw some drawbacks. They were concerned about the concentration of power in the hands of a few wealthy business leaders, which they believed could lead to an oligarchy. There were also concerns about unfair practices, lack of competition, and the negative impact on workers. Additionally, some critics argued that these large corporations eliminated their competitors through aggressive tactics, rather than through superior methods of production and finance.