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Mr. Wynand

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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?

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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"?

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