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List each of the reforms that Wilson developed to address the Triple Wall of Privilege. Please list and explain each in one sentence.

1. Tariff Reform: Wilson implemented the Underwood Tariff Act, which significantly lowered tariffs to increase competition and reduce consumer prices.
2. Business Reform: The Clayton Antitrust Act was introduced to strengthen antitrust laws and prevent unfair business practices.
3. Banking Reform: Wilson established the Federal Reserve System to provide a safer, more flexible, and stable monetary and financial system.

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GinnyAnswer

Final answer:

Wilson developed reforms like progressive taxation, the Federal Reserve System, and the Clayton Antitrust Act to tackle the Triple Wall of Privilege.


Explanation:

The reforms that Wilson developed to address the Triple Wall of Privilege were:

  1. Progressive Taxation: Wilson introduced the Revenue Act of 1913, instituting a progressive income tax to reduce the influence of the wealthy elites.
  2. The Federal Reserve System: Wilson signed the Federal Reserve Act in 1913, creating a decentralized banking system to regulate the money supply.
  3. Clayton Antitrust Act: This act aimed to limit the power of monopolies and protect small businesses and consumers from unfair business practices.

Learn more about Wilson's reforms to address the Triple Wall of Privilege here:

https://brainly.com/question/40862753


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