Economic Philosophy of Industrial Capitalism

Very Hard Period 6: 1865–1898 Industrial Capitalism

In the late 19th century, the rapid expansion of industrial capitalism transformed the American economy and society. This period witnessed the rise of major industrialists and the establishment of monopolies. Assessing the impact of these changes, which of the following statements best captures the economic philosophy that underpinned this transformation during the era of industrial capitalism?

The belief in government intervention to regulate monopolies and protect labor's rights.

The advocacy for laissez-faire economics, where government should have minimal involvement in the economy.

The promotion of agrarianism as the best approach to economic stability.

The endorsement of socialist ideals to redistribute wealth among the populace.

Hint

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