Pros And Cons Of Monopolies

Henry Demarest Lloyd argues that the operations of monopolies are detrimental to the people. Lloyd explains that a monopoly is used to control aspects of the business, which generates a profit for a select few. Business owners are legally allowed to reduce production and increase prices in order to sustain a high demand for their product. Ultimately so businesses get the most and give the least. Lloyd appeals to his audience by exposing the negative side of monopolies. He states that big business owners are like ‘corporate Caesars’ referring to them having dictator like qualities. He is implying that those who run monopolies are malicious men who don’t care about anyone but themselves, that they are not looking to improve the well-being of the community but are only interested in improving their own livelihood. Monopolies are making it impossible for the middle class to survive. He explains that these men that are working for these big companies are dying from hunger …show more content…
Therefore, the fact that a person had a lot of money showed that he was more fit than others. Carnegie thinks that inheritance is damaging to society because it does not enhance the inheritor or the community. Inheritance supports laziness and consequently leads to lack of a good work ethic. It does not teach the inheritors to make money for themselves or help those in community they live in. Carnegie also notes that charity is bad and instead of handouts, the wealth should be given to those in a position where they can help the needy to help themselves to be better citizens. It is the duty of the wealthy to use their earnings to open institutions that will help everyone. He explains how it is in the best interest of the race to give the wealth to a few because it is better to help many for years to come than equally divided among people to be