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Economicany speaking, aggregared [accumulateoj capital will De more ana more essential to the performance of our social tasks Furthermore, it seems to me certain that all aggregated capital will fall more and more under personal control Each great company will be known as controlled by one master mind. The reason for this lies in the great superiority of personal management over management by boards and committees.This tendency is in the public interest, for it is in the direction of more satisfactory responsibility. The great hindrance to the developmen of this continent has lain in the lack of capital. The capital which we have had has been wasted by division and dissipation, and by injudicious applications. The waste of capital, in proportion to the total capital, in this country between 1800 and 1850 in the attempts which were made to establish means of communication and transportation, was enormous. The waste was chiefly due to ignorance and bad management, especially to State control of public works. We are to see the developmen of the country pushed forward at an unprecedented rate by an aggregation of capital, and a systematic application of it under the direction of competent men. This development will be for the benefit of all, and it will enable each one of us, in his measure and way, to increase his wealth.We may each of us go ahead to do so, and we have every reason to rejoice in each other's prosperity. __ Capital inherited by a spendthrift person who spends money freely) will be squandered and re-accumulated in the ands of men who are fit and competent to hold it. So it should be, and under such a tate of things there is no reason to desire to limit the property which any man may cauire." Mark for Review The excerpt best reflects which of the following economic developments in the late 1800 s? A The growth in support for government regulation of the economy B The consolidation of power over the economy by business leaders C The end of federal support for transportation infrastructure projects D The spread of technological innovations in agricultural production

Question

Economicany speaking, aggregared [accumulateoj capital will De more ana more essential to the performance of our social tasks Furthermore, it seems to me certain that all aggregated capital will fall more and more under personal control Each great company will be known as controlled by one master mind. The reason for this lies in the great superiority of personal management over management by boards and committees.This tendency is in the public interest, for it is in the direction of more satisfactory responsibility. The great hindrance to the developmen of this continent has lain in the lack of capital. The capital which we have had has been wasted by division and dissipation, and by injudicious applications. The waste of capital, in proportion to the total capital, in this country between 1800 and 1850 in the attempts which were made to establish means of communication and transportation, was enormous. The waste was chiefly due to ignorance and bad management, especially to State control of public works. We are to see the developmen of the country pushed forward at an unprecedented rate by an aggregation of capital, and a systematic application of it under the direction of competent men. This development will be for the benefit of all, and it will enable each one of us, in his measure and way, to increase his wealth.We may each of us go ahead to do so, and we have every reason to rejoice in each other's prosperity. __ Capital inherited by a spendthrift person who spends money freely) will be squandered and re-accumulated in the ands of men who are fit and competent to hold it. So it should be, and under such a tate of things there is no reason to desire to limit the property which any man may cauire." Mark for Review The excerpt best reflects which of the following economic developments in the late 1800 s? A The growth in support for government regulation of the economy B The consolidation of power over the economy by business leaders C The end of federal support for transportation infrastructure projects D The spread of technological innovations in agricultural production

Economicany speaking, aggregared [accumulateoj capital will De more ana more essential to the performance of our social tasks Furthermore, it seems to me certain that all aggregated capital will fall more and more under personal control Each great company will be known as controlled by one master mind. The reason for this lies in the great superiority of personal management over management by boards and committees.This tendency is in the public interest, for it is in the direction of more satisfactory responsibility. The great hindrance to the developmen of this continent has lain in the lack of capital. The capital which we have had has been wasted by division and dissipation, and by injudicious applications. The waste of capital, in proportion to the total capital, in this country between 1800 and 1850 in the attempts which were made to establish means of communication and transportation, was enormous. The waste was chiefly due to ignorance and bad management, especially to State control of public works. We are to see the developmen of the country pushed forward at an unprecedented rate by an aggregation of capital, and a systematic application of it under the direction of competent men. This development will be for the benefit of all, and it will enable each one of us, in his measure and way, to increase his wealth.We may each of us go ahead to do so, and we have every reason to rejoice in each other's prosperity. __ Capital inherited by a spendthrift person who spends money freely) will be squandered and re-accumulated in the ands of men who are fit and competent to hold it. So it should be, and under such a tate of things there is no reason to desire to limit the property which any man may cauire." Mark for Review The excerpt best reflects which of the following economic developments in the late 1800 s? A The growth in support for government regulation of the economy B The consolidation of power over the economy by business leaders C The end of federal support for transportation infrastructure projects D The spread of technological innovations in agricultural production

Solution

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Answer

###B. The consolidation of power over the economy by business leaders

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##Step1: Identify Key Themes<br />###The excerpt discusses the increasing importance of capital, personal control over aggregated capital, and the role of competent management in economic development. It emphasizes the consolidation of capital under individual control rather than state or collective management.<br /><br />##Step2: Match Themes to Options<br />###Option A refers to government regulation, which contrasts with the excerpt's emphasis on personal control. Option B aligns with the idea of business leaders consolidating power. Option C is not directly related to the themes discussed. Option D focuses on technological innovations in agriculture, which is not the main focus of the excerpt.<br /><br />#
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