The Court Case That Changed Business History
1886
USA
In Santa Clara v. Southern Pacific Railroad Company, the Supreme Court held that the 14th Amendment's guarantee of due process applies to corporations.
In another decision that same year, in the case of Wabash, St. Louis & Pacific Railroad v. Illinois, the court ruled that Congress has an exclusive right to regulate interstate commerce.
1889
USA
Andrew Carnegie wrote "The Gospel of Wealth" and in it the concept of Social Darwinism.
We accept and welcome... great inequality of environment; the concentration of business, industrial and commercial, in the hands of a few; and the law of competition between these as being not only beneficial, but essential to the future of the race." — Andrew Carnegie
In an essay, Carnegie also wrote, "The man who dies thus rich dies disgraced."
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