Question: the laissez faire economics of the industrializing era allowed some...
The laissez faire economics of the industrializing era allowed some individuals to accumulate huge fortunes. While some working men and women would also become modestly prosperous during this era, there was also a troubling aspect to this evolving economy. What was it?
A tremendous growth of the power of the federal government caused huge budget deficits that acted as a drag on the economy.
Income taxes thwarted many a hard-working Americans as they attempted to gain greater wealth.
Laissez faire capitalism concentrated an outsized portion of the nation’s wealth in the hands of the rich creating a large, impoverished underclass.
There was a danger that working classes all over the world would foment revolution against the capitalist class that exploited them.