The great industrialists of the late nineteenth century praised unfettered free enterprise as they worked to eliminate competition. How can these apparently conflicting ideologies be reconciled?

Back then there were few ways where in business activities were monitored by the government. During that time it was part of competition to eliminate your rival to expand your business. There were competitors but it in the method of how you beat your rival that came into question. This was later questioned by progressive politicians who put limits on these new business empires.