The early Nineteenth Century was a time of growth and expansions within Americas great shift to industrialisation. Thousands of new arrivals seeking a better life, along with the entrepreneurial spirit were seeking to obtain their fortunes by investing in the railroads.
At that time in history the promise of opportunity was immense, unlike the overcrowded impoverished climate that existed in Europe, America was seen as a place that a man and his family could grasp a fortune and set a family up for many generations to come. The opening up of the remaining wildernesses of America – the frontier lands Westward were a place that many of the big businesses of America were born.
As the developing railroads became big business, materials that were needed to develop the railroad helped create several seperate big industries which much of our daily life is dependant on today such as iron, copper, steel, machine tools and oil.
As history has always revealed to itself with all revolutions, with rapid change comes unexpected outcomes. Big business reached greater markets than were ever conceived of before and could benefit from the ability to raise vast amounts of capital that made possible the cost economies of large-scale production” (Chalmers).
This in turn resulted in certain individuals owning businesses thats influences could manipulate the market place and effect policies on Capital Hill Washington. The two words Monopoly and Scandal have always played a part in what big business can get up too when unchecked. Many Scandals can occur when industries are left unregulated, even to this day we experience big business doing the wrong thing such as the vw scandal which Volkswagen has recently been caught out on, in a very public display of corporate immorality that requires compensation lawyers to help the owners of VW cars receive justice.
Due to the cause and effect that came from the owners of the railroads gaining such monopoly powers the first cases of antitrust regulation occurred around the late 1870s. The government controls several aspects of private business because it is well understood that when business is left unchecked and able to go about its own way with any monitoring it does not always benefit the citizens within the society that that business exists within.