Mr. Wynand Posted February 3, 2009 Report Share Posted February 3, 2009 (edited) During the late 19th century, monopolies dominated the American economy. (I'm not saying this was a bad thing, I know the objectivist stance on monopolies and I support it.) Standard Oil and US Steel helped move the country forward with miraculous innovations that increased production and efficiency greatly. But I want to know why this period was a "price depression," and what was the cause of this? Edited February 3, 2009 by Mr. Wynand Link to comment Share on other sites More sharing options...
eficazpensador Posted February 3, 2009 Report Share Posted February 3, 2009 During the late 19th century, monopolies dominated the American economy. (I'm not saying this was a bad thing, I know the objectivist stance on monopolies and I support it.) Standard Oil and US Steel helped move the country forward with miraculous innovations that increased production and efficiency greatly. But I want to know why this period was a "price depression," and what was the cause of this? What do you mean "price depression"? The monopolies learned how to make stuff better and sell it for cheaper. Prices went down. Is that a "price depression"? Link to comment Share on other sites More sharing options...
W.C.Meyer Posted February 5, 2009 Report Share Posted February 5, 2009 I haven't heard of a price depression from this time. If there was one, I'm not sure what the source was; possibly antebellum effects. Link to comment Share on other sites More sharing options...
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