Woodrow Wilson's Views on Big Businesses and Trusts in the U.S.
What specific groups or entities did Woodrow Wilson believe had excessive power over the U.S. economy and government during his presidency?
According to historical records, which of the following did Woodrow Wilson believe had an excessive amount of power over the U.S. economy and government during his time as president?
- A. Small businesses and independent entrepreneurs
- B. Big businesses and trusts
- C. Labor unions and workers
- D. Foreign governments and international organizations
Answer:
Woodrow Wilson believed that big businesses and trusts had excessive power over the U.S. economy and government.
Woodrow Wilson, the 28th President of the United States, held the belief that big businesses and trusts exerted an overwhelming amount of influence over the nation's economy and government during his time in office. Wilson was particularly concerned with the concentration of economic power in the hands of a few large corporations, which he viewed as a threat to fair competition and democratic governance.
As a response to this perceived issue, Woodrow Wilson implemented various measures to address the dominance of big businesses and trusts. Among these efforts was the passage of the Clayton Antitrust Act, which aimed to curb monopolistic practices and promote competition in the marketplace. Additionally, Wilson established the War Industries Board during World War I to regulate industrial production and ensure that government contracts were distributed fairly among suppliers.
Through these actions, Woodrow Wilson sought to limit the influence of powerful corporate entities and create a more equitable economic landscape. His stance on the power dynamics between big businesses, trusts, and the U.S. government reflected his commitment to promoting a level playing field for all participants in the economy.