What is social Darwinism and how did business leaders use this theory to limit competition?

Social Darwinism is the application of Darwin's theory of natural selection to human societies. Business leaders used this theory to justify monopolistic practices by arguing that only the strongest businesses should survive, leading to the belief that competition was a natural process that should not be interfered with by government regulations. By promoting the idea that competition was a struggle for survival, they sought to limit competition and consolidate their power in the marketplace.