Busting the Trusts 1911 The Statut
There was a major surge of industrialisation across the United States in the late nineteenth and early twentieth century. The growth of “big business” was one of the era’s outcomes. Large firms arose in specific industries. By arranging themselves into monopolies, several of these firms were able to reduce or even eliminate competition. A trust was a technique of combining opposing businesses to organize a firm.
Trusts, according to progressive reformers, were harmful for the economy and for consumers. Trusts could charge any price they wanted since there was no competition. The pricing of things was set by corporate greed rather than market desires. Progressives pushed for legislation to dismantle these trusts, a practice known as “trust busting.”