What is a monopoly? Why did some individuals strongly believe that the railroad industrialists possessed monopoly power? Were their beliefs substantiated? What actions were taken against the railroads? How do these actions affect us today? Finally, what is the Sherman Anti-trust Act of 1890? What is the economic history behind this act? How is this act applied today?
Write a three page essay on the above topic. The essay should have a critical analysis of your views. It should indicate, in particular, monopoly in the industries in the past, and in 1911 what actions did Federal Government take in the breakup of Esso Oil Company of New Jersey. When and why did the breakup of AT&T take place?
Please include your Work Cited.