Question

Read this excerpt from president theodore roosevelt’s 1901 state of the union address. corporations engaged in interstate commerce should be regulated if they are found to [harm] public [interest]. it should be as much the aim of those who seek for social-betterment to rid the business world of crimes of cunning. . . . great corporations exist only because they are created and safeguarded by our institutions; and it is therefore our right and our duty to see that they work in harmony with these institutions. what can you infer about roosevelt’s view of the government’s relationship to corporations?

a. The government should run corporations to improve society.
b. The government should create corporations that aid the public.
c. The government should help corporations with any labor problems.
d. The government should regulate corporations to safeguard society.

Answer 1

Theodore Roosevelt believed in regulating corporations to ensure they did not harm the public interest, differentiating between 'good' and 'bad' trusts. The correct option is D,

Step-by-step explanation:

Theodore Roosevelt's Approach to Corporations

From President Theodore Roosevelt's perspective, the government's relationship to corporations was centered on regulation to ensure they did not harm the public interest. In his 1901 State of the Union address, he articulated the belief that great corporations should work in harmony with the institutions that created and protected them.

Roosevelt's actions as president, including the initiation of antitrust lawsuits and creation of the Department of Commerce and Labor, demonstrate his commitment to his regulatory philosophy. The aim was not to run corporations or solely to create them, but to ensure they operated in a manner that safeguarded society. Roosevelt's nuanced approach recognized the existence of "good trusts" that benefitted the economy without abusing their power, and he was not averse to working with business leaders to promote fair commerce practices.

He used his authority to break up trusts like the Northern Securities Company when they were found to conspire against competitors and harm competition. Roosevelt's establishment of the Bureau of Corporations and the increased activity under the Sherman Antitrust Act reflected his staunch conviction that the federal government should serve as an arbiter in the economic arena, maintaining balance and fairness. His approach marked a significant departure from previous laissez-faire attitudes towards business and set the stage for an era of progressive reforms. However, he was practical in his actions, not aiming for the dissolution of all large corporate entities, but rather for the regulation of those operating against the public interest.