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The government economic policy that allowed monopolies to flourish was primarily the lack of stringent antitrust regulations and enforcement. During certain periods, particularly in the late 19th and early 20th centuries, laissez-faire capitalism prevailed, enabling companies to consolidate power without significant government intervention. This hands-off approach allowed monopolistic practices to emerge, leading to the dominance of a few large firms in various industries. It wasn’t until the establishment of antitrust laws, such as the Sherman Antitrust Act of 1890, that measures were put in place to combat these monopolistic tendencies.

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