Corporate Power Then and Now

Essay by SteamboatHigh School, 12th grade December 2006

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In today's world corporations have much influence on the American and global economy much similar as the beginning stages of corporate America in the early 1900's.

America's movement to industry and a corporate world was a quick transition that began in the late 1800's when the United States was much a rural society, and it was a quick transition to work in an urban setting and the control moving to business tycoons. Today the transition is very apparent as the fortune 500 companies control 75 percent of the US manufacturing market and have a grip on the government and decisions made.

A key factor for the growth of the corporation into what it is today is the limited liability placed on them by the government. Investors from the beginning were encouraged to put money into corporations. Another big factor in the development of corporate America is the railroad. Corporations bought into the railroads as it would help to ship goods across the US and get their businesses on the move.

As corporations became a bigger and more important part of the American economy legislation was passed to protect them. Corporations were labeled as people and had the same rights but with these rights didn't come much responsibility as they weren't held responsible for their employees. If an employee was injured on company ground corporations didn't have to deal with it and could continue business without much trouble.

No corporations were bigger and more powerful then those of the Steel Industry in the late 1800's and early 1900's.

Industrial growth boomed, in the late 1800's because of the abundance of natural resources in the United States. Resources such as iron and coal were exploited more and more efficiently as time went on. As immigrants came into the United States jobs were...