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During the Gilded Age, business tycoons operated in a largely unregulated economic environment, characterized by laissez-faire capitalism and minimal government intervention. The prevailing belief in the virtues of free enterprise and individualism allowed them to engage in practices like monopolization, exploitative labor, and corruption without facing significant legal repercussions. Additionally, the influence of wealthy industrialists on politics often resulted in laws that favored their interests, making it difficult to hold them accountable for unethical practices that would be considered illegal today.

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