Which economic reforms did the United States put into place? Check all that apply.
1. establishing a free-market system
2. creating more zaibatsu companies
3. allowing workers to set up trade unions
4. giving more property to wealthy landlords
5. selling land to farmers at reasonable prices
6. giving poor people greater power and control
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Economic Reforms In the United States
Explanation:
- The Economic Era began at 1900s and lasted till world war I. this era represented a time of economic and social reform. This rapid shift of industrialization caused drastic changes within the economy.
- Large corporations and trusts quickly arose and amassed significant power and at last controlled much industry. an environment of materialism and greed overwhelmed the market, often leading to poor living conditions and long hours for class people.
- The mix of poor housing, sanitation, healthcare, and exploitation of workers led to a imply immense reform. The Progressive leaders pushed for an agenda of reform for the broken political and financial system that perpetuated the disenfranchisement of the working people.
- The drastic rise in economic activity at now was mainly thanks to industrialization and also the practice of cheap labor led by the predominant big businesses.
- This explosive growth in business led to the emergence of huge corporations and trusts that controlled their industries by taking up smaller companies and creating a monopoly within the market. one in all the foremost notable samples of this was the U.S. Steel Corporation that was controlled by industrialist.
- Between the years of 1887 and 1904, a complete of nine steel companies were consolidated, and also the corporation was able to practice ruthless tactics to monopolize the industry without consequences from the govt.
- Some people during the Progressive Era involved major social reforms and for an expanded role of the govt to control business practices. Previously, the govt. promoted a free market and held a laissez-faire attitude that meant the govt. wouldn't get entangled in regulating business practices.
- The old belief was that the market would adjust itself without the assistance of the govt.. The Progressive Era saw the corruption that stemmed from belief of a free market, and also the progressives worked to enforce regulations of corrupt business practices so as to safeguard the interests of the general public.
The economic reforms did the United States put into place are:
-establishing a free-market system
- allowing workers to line up trade unions
- selling land to farmers at reasonable prices
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