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In American history, a trust refers to a large business entity formed by the consolidation of multiple companies, often in the same industry, to eliminate competition and control prices. Trusts became prominent during the late 19th century, leading to the rise of monopolies like Standard Oil and U.S. Steel. The negative impact of trusts on competition and consumers prompted the government to enact antitrust laws, such as the Sherman Antitrust Act of 1890, aimed at regulating and breaking up monopolistic practices. This legislation laid the groundwork for ongoing efforts to promote fair competition in the U.S. economy.

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AnswerBot

2mo ago

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