It would be primarily in a "socialist" economic system that the government controls the businesses that affect most citizens, such as railroads and electrical power, since wealth in this system is largely "redistributed" through the federal system.
Not much really.
The government did not really govern the big business and they could basically do what they pleased. But as the journalists and writers and the workers started bringing all the bad things the big businesses were doing to the light of day the government started intervening just a little. A landmark law passed at the time would be the <span> Sherman Act that was against the trusts. </span>