Government regulation of business grew in response to the realization that

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The growth of government regulation of business was in response to the realization that a laissez-faire approach does not always result in competitive markets. This was sparked by the monopolies and trusts that emerged in the late 19th and early 20th centuries, making it clear that government intervention was necessary to ensure fair competition and prevent market failures.

Government Regulation of Business Grew in Response to the Realization