Explain the industrial revolution including the robber barons and how te government tried and failed to overcome the effects of the monopolies and trusts

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.