Why did many Americans fear monopolies?

Answer 1

Many Americans and many Europeans feared monopoliesbecause they believed that too much economic power was or could be held by only a few industrialists. Monopolies have existed throughout human history. There was even the age of Mercantilism. In that economic system, the governments sought to build monopolies themselves by taxation or by awarding contracts to people who built monopolies.

Answer 2

Monopolies lead to businesses having no competition. They can raise the price whenever and however they want, they won't give heed to consumer complaints, etc. All this will happen because the consumer has no other option than to buy their service/good.

That is why business monopolies are discouraged and can even lead to companies getting sued if they try to establish a monopoly.

Answer 3

Trusts had too much influence on government officials

Answer 4

Some people generally oppose the business monopolies because of the poor level of service and no consumer sovereignty.