Question
It was President Calvin Coolidge who proclaimed, “The chief business of American people is business,”
in 1925. Indeed, in the 100 years or so from the late 19th century to the latter half of the 20th, American
businesses have changed the concept of production, consumption, finance, and competition, paving the
way for global dominance in the modern era. Referring to the key events that occurred during that period,
explain the advantageous aspects of American businesses that allowed them to succeed, along with its
relation with the government and the society, and also mention the pitfalls of its prosperity.
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