ANSWER:
Robber barons in the second part of industrial revolution established monopoly and the government failed to overcome them due to lack of proper regulation.
EXPLANATION:
- The industrial revolution in America dates back to late 1790s and 1800s. The second industrial revolution in America is known as the Gilded Age.
- This age, that is in the late 1900s, showed a great hike in all the fields of industrial growth.
- The industrialists during this age were termed as “robber barons” which is a metaphorical term to criticize the powerful and wealthy industrialists who used all types of unethical tactics to run their businesses and establish a culture of monopoly.
- The government severely failed to overcome the effects of monopolies and trusts as it had very little to no regulation in businesses and industries.
- Businessmen and industrialists had full control over their companies without any interference of the government.
- There was also widespread corruption that also resulted in loosened hands of government over the industries.
