Answer:
Monopolies are bad for the economy because lack of competition allows a few to set prices, stagnate competition.
Explanation:
How did the rich take advantage:
The rich had ready capital to either buy out smaller competitors or drive them out with undercut prices until the competitor failed, then prices to consumer went back up even higher.
It happened in the early industrial revolution: Rockefeller/Standard Oil,
Carnegie and JP Morgan= Steel industry
Still going on today, especially in the tech arena.
Able to manipulate what we buy, the way we think, etc.
We need to be responsible, situationally aware consumers.
They allowed investors to take fewer risk.
Roger Williams was expelled from Massachusetts for being " a rebel" for his new ideas and later founded the state of Rhode Island advocating the ideals of the separation of church and state.
Answer: Rhode Island
