I think it’s Asia not sure tho
Abraham Lincoln was elected president
It was the "Glass-Steagall Banking Act" that established the Federal Deposit Insurance Corporation (FDIC), with the greater goal of restoring public confidence in the banking system, since many Americans before this did not trust banks with their money.
Answer
Yes, in general it is true that "Socialists wanted the government to take over the businesses that affected most citizens, like railroads, electric power, and telephones" since they tend to think that society functions better when the government is in charge of regulating corporations
have a good day
The collapse of Western Europe and the Mediterranean world led initiated the formation of the modern world. The collapse of both these regions led to times like the Renaissance, Enlightenment, Industrial Revolution, and eventually the development of liberal democracy. So the collapse sort of started a chain of events that has led to the world-shaping itself to what it is today.