WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
SECOND INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The idea that government should protect workers and farmers
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laissez-faire economic policy of the US government
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Gospel of Wealth requiring rich to help their community
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Idea of an 8 hour workday and limits on child labor
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Detailed explanation-1: -In the public mind, robber barons were often associated with political corruption. The concept of laissez faire capitalism, which dictated no government regulation of business, was promoted.
Detailed explanation-2: -Robber Barons used the ideas of Social Darwinism, the notion that corporate consolidations provided social mobility and opportunity, and the great economic prosperity available to justify the existence of monopolies.
Detailed explanation-3: -Robber barons contributed to great economic and industrial expansion in the U.S. by building financial empires in key industries, such as railroads and steel. With fewer business regulations than there are today, robber barons were able to amass great wealth.
Detailed explanation-4: -Robber barons typically affirmed principles of free market economics/capitalism. They often believed that the government should stay out of private business. They emphasized hard work and self-determination.