TRUSTBUSTING Meaning and
Definition
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Trustbusting refers to the process or act of breaking up or dismantling monopolies or trusts in order to promote competition and prevent unfair business practices. It is a term that originated in the United States during the late 19th and early 20th centuries as a response to the excessive power and control held by large corporations or monopolistic organizations.
Trustbusting was primarily associated with the Progressive Era and was advocated for by government officials, such as President Theodore Roosevelt. It involved implementing measures to combat the concentration of economic power in the hands of a few entities or individuals, as well as ensuring that there was fair competition in the market.
In practical terms, trustbusting often involved enforcing antitrust laws and regulations through legal action. This could include lawsuits filed against monopolistic corporations, conducting investigations into their business practices, and imposing sanctions or penalties to break up their market dominance.
The aim of trustbusting was to foster a competitive environment where businesses and individuals could operate freely without being subjected to unfair restraints or abuse. By curbing the power of monopolies, it was believed that trustbusting could protect the interests of consumers, prevent price manipulation, stimulate innovation, and promote economic growth.
Overall, trustbusting refers to the governmental actions and policies intended to dismantle monopolies and promote fair competition in order to safeguard the interests of the general public and maintain a healthy and open market economy.
Common Misspellings for TRUSTBUSTING
- rrustbusting
- frustbusting
- grustbusting
- yrustbusting
- 6rustbusting
- 5rustbusting
- teustbusting
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- tristbusting
- tr8stbusting
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- truatbusting
- truztbusting
Etymology of TRUSTBUSTING
The word "trustbusting" was coined in the United States during the late 19th and early 20th centuries to describe the efforts of government authorities to break up or regulate large corporations, particularly the infamous "trusts" of the era. The term combines two elements:
1. Trust: In this context, it refers to the large industrial and financial combinations known as trusts. These trusts were formed through the practice of "trustification", where small firms were consolidated into large corporations, often with a board of trustees overseeing the management. The term originated from the idea that the trustees held the assets of various companies "in trust" for the shareholders.
2. Busting: Derived from the informal phrase "to bust", which means to break, shatter, or disrupt.
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