Student Question
How did Roosevelt and Wilson differ in regulating U.S. big business?
Quick answer:
Roosevelt and Wilson both recognized the industrialized U.S. as permanent but had differing approaches to regulating big business. Roosevelt saw himself as a mediator, aiming to regulate rather than dismantle trusts, seeking balance between industry and public interests. He was known as a "trust regulator." Wilson, however, denounced big business, viewing it as monopolistic, and sought to dismantle it. In practice, Wilson also implemented regulatory measures like the Federal Trade Commission and Clayton Antitrust Act.
Roosevelt and Wilson understood that the industrialized United States was here to stay.They realized American industry had both positive and negative effects on America and Americans.The monopolistic tendenices that many of America's large corporations began exploiting combined with the vast amounts of wealth accumulated by a select few struck fear into the hearts of many Americans.Their approach differed, but the policies not very different. Roosevelt believed that the federal government could and should act as the mediator between industry and the American public. He saw himself as the liasion between the two. Roosevelt was dubbed 'the trustbuster' when in actuality he was more of a trust regulator, however 'trustbusting' sells more newspapers! Roosevelt recognized the dangers that economic concentration could have on a capitalist society, but understood corporate America was permanent in American society.Roosevelt sought regulation to level the 'playing field' between big business and the abuses they were responsible for.He wanted to create balance, compromise. Wilson took a different approach. Wilson flat out denounced big business. He argued big business' only concern was consolidation (monopoly) and as such should be destroyed.Wilson never destroyed big business,he too regulated it with The Federal Trade commission and Clayton Antitrust Act.Their personalities differed more than their policies.
Get Ahead with eNotes
Start your 48-hour free trial to access everything you need to rise to the top of the class. Enjoy expert answers and study guides ad-free and take your learning to the next level.
Already a member? Log in here.