... this system had a "hands-off" mentality-the government had no regulations or restrictions on big businesses. The rapid expansion in many industries prompted the developments of pools and monopolies. A monopoly is the exclusive possession or control of the supply or trade in a commodity or service, while a pool is an amalgamation of the resources of the participants in an association for their ... to cut costs and maximize his profits. On July 6, the workers at the Homestead Mill went on strike. Carnegie's company hired Pinkerton guards to break up the strike and the union Carnegie so oft...

• Word Count: 1703
• Approx Pages: 7
• Grade Level: Undergraduate