Reforms moved the economy to one in which government regulations prevent abuses of economic power

This is a progressive reform. A movement for reform that happened approximately between 1900 and 1920. Progressive Reforms were encouraged by the political philosophy of Progressivism and the effect and effort of reformists called Progressives who are comprised of protestors, experts and social critics. Progressives normally held that reckless actions by the rich were mortifying both public and private life.

Yes, surely many important reforms have moved the economy in the whole world towards a positive progressive growth government, in which strict regulations have been formed by the governments, which inturn has reduced the abuses of economic powers as much as possible, which has been welcomed by most of the people for sure in most of the countries.