Question

Age of Progressivism Trusts and monopolies: Sherman Anti-Trust, Interstate Commerce Commission

A) To promote competition
B) To encourage monopolies
C) To regulate labor unions
D) To control agricultural production

Answer 1

During the Age of Progressivism, the Sherman Anti-Trust Act and the creation of the Interstate Commerce Commission were efforts by the government to promote competition option (a) and guard against monopolistic practices that hurt the marketplace.

Step-by-step explanation:

The Age of Progressivism saw measures such as the Sherman Anti-Trust Act and the creation of the Interstate Commerce Commission specifically designed to promote competition and counter the formation of monopolies and trusts that could potentially harm the marketplace.

The Sherman Anti-Trust Act of 1890 made it illegal to monopolize or attempt to monopolize or conspire in the restraint of commerce. Whereas the Interstate Commerce Commission sought to ensure fair rates and to regulate other practices in the railroad industry, further reflecting the desire for economic fairness and competition.

These legislative steps represented an effort by reformers and the government to protect consumers and smaller businesses from the anti-competitive practices of larger corporations. Critics of monopolization feared reduced competition would lead to higher prices and a lack of innovation. However, defending corporations argued that economies of scale enabled by these large firms led to lower prices for consumers.

Ultimately, these early regulations during the Progressive Era set a precedent for federal intervention in the market, which aimed to ensure a level of competition and prevent the abuses of market dominance by large business entities.