Understanding Industrial Capitalism in Post-Civil War America

After the Civil War, the United States underwent a significant transformation into a more industrialized economy. This period, known as the Rise of Industrial Capitalism, saw the emergence of powerful business leaders and monopolies. One of the key figures during this period was Andrew Carnegie, who made his fortune in the steel industry. The industrial revolution greatly reshaped the nation's economic landscape, leading to a shift from agrarian to industrial labor.

Which of the following statements best describes a fundamental characteristic of industrial capitalism during this period?