...Robber barons is a term to describe the wealthy businessmen in the 1900’s. There were two types of robber barons. One type is the group that is more vicious plunderers and destroyers. A prime example of someone that was that type of robber baron was Jay Gould. Jay Gould was a man that was seen to have hunger in his eyes and was always looking to make a killing in industries, such as railroads without caring about the economic or political stability. The other type of robber barons weren’t any less vicious but instead of destroying it they acquired the fortunes and built large enterprises that they would oversee. An example of this robber baron would be Andrew Carnegie and John D. Rockefeller. Both type of robber barons destroyed and manipulated the economies beyond repair but at least the second type contributed to the success of America and were also called the modern day Robin Hoods....
Words: 559 - Pages: 3
...2015 Robber Barons of the Industrial Age A “robber baron” is someone who makes money for themselves in an unfair fashion; for instance, by paying employees very low wages or selling a product at a lower price than it costs to produce. This is what John D. Rockefeller did to gain control over the oil industry. Andrew Carnegie - the leader of the steel industry- and Rockefeller are two examples of robber barons who wanted to make large profits and put other companies out of business for their own power and success. One of the robber barons of the Industrial Age was Andrew Carnegie. Carnegie is known for his use of vertical integration, where he bought out suppliers in order to gain control over materials and systems of transportation. Not only did he buy out his suppliers, but he also bought out competing steel companies. To draw valuable people to his company, Carnegie offered his workers stock in the company. His workers faced...
Words: 499 - Pages: 2
...Billy Rudnik Silverman U.S. History 1 5/14/16 Late 19th Century Tycoons Assignment Several nineteenth-century industrialists are debated as both "captains of industry" and "robber barons". These include people such as J.P. Morgan, Andrew Carnegie, Andrew W. Mellon, and John D. Rockefeller. The term “Robber Baron”combines the concept of a criminal robber with an illegitimate aristocrat baron and means becoming wealthy by unethical means. For example. Rockefeller’s Standard Oil Company of Ohio controlled 90 percent of the refining business. Rockefeller reaped huge profits by paying his employees extremely low wages and driving his competitors out of business by selling his oil at a lower price than it cost to produce it. Then, when...
Words: 316 - Pages: 2
...Who were the “Robber Barons?” How did they work to concentrate wealth and reform capitalism? How could they be called “Robber Barons” by many, and “Captains of Industry,” by a few? In what ways were they both? Throughout history there have been very important men who have had a big impact on our industries. Without these men we would not have some of the greatest industries we have today. Men like Cornelius Vanderbilt, John Rockefeller, J.P. Morgan and Andrew Carnegie. These men were some of the richest men in their times, they each were very successful business men. Cornelius Vanderbilt made his fortune off of steam ships and railroads. John Rockefeller controlled the oil companies. J.P. Morgan was a successful banker and investor whose company J.P. Morgan & co is still around today. Andrew Carnegie took over the steel industry making him one of the richest men in the world when he died. (Zinn Ch 10 & 11) All these men were successful and could be called Captains of Industry but at the same time were also known as Robber Barons. In this essay I will be giving a brief history of each of those men and in what industry he made his fortune. I will also explain how each one had different aspects of their life that made people think of them as Robber Barons. Finally I will talk about how they can be considered to be both Robber Barons and Captains of Industry. The dictionary has two definitions for a Robber Baron. The first is “an American capitalist of the latter part...
Words: 2027 - Pages: 9
...What are some arguments in favor of the Robber Barons (or captains of industry)? Just as professor Burton mentioned, the Robber Barons were not one sided, in that they were only good or bad. The truth is that they were complex individuals that did do good and bad things. In addition, one argument in favor of Robber Barons consists of the philanthropy that these individuals practiced. Consequently, in many cases their intentions may be maleficent, however, if the donations that these individuals made to society helped, then they can be labeled as beneficial. For example, Daniel Drew built several churches; helped found Drew Theological Seminary and Drew Seminary for Young Ladies. These institutions helped society in a positive fashion. Additionally,...
Words: 259 - Pages: 2
...history and compare a robber baron to a present day CEO there are many seminaries and differences. A robber baron is someone who became very wealthy during the industrial age doing unethical work. Even though many robber barons created thousands of jobs, and jumpstarted important industries to the American economy. Just like our present day CEO’s of major companies. John D. Rockefeller a robber baron during the industrial age became the founder of the Standard Oil Company and Larry Page who became the CEO of Google. John Rockefeller was an American industrialist, who became a high school dropout in 1855; John Rockefeller went from being a book keeper to having near control of the north east oil companies. John Rockefeller started one of the greatest monopolies of the progressive era. The Standard Oil Company grew to dominate the oil industry and became one of the first big trusts in the United States. John Rockefeller started his career in business when he was six-teen years old at Hewitt & Tuttle, a small commission firm for producing ships. His employers where impressed with his abilities for business as well his compassion donating a percent of his earning to charity and soon gave him more responsibilities within the business. John Rockefeller went into his own business by the age of twenty as a commission merchant. He soon realized that growth and industrial materials and that is when he saw his opportunity for big business which was oil. John Rockefeller paid close attention...
Words: 962 - Pages: 4
...Were the Nineteenth-Century Entrepreneurs “Robber Barons”? Throughout the nineteenth century, the United States had just experienced a transformation that has revolutionized the world of business. The industrial revolution has brought in many new innovations such as, the railroad, a new method of effective and efficient transportation, and machinery which would increase the manufacturing process ten-fold. As new and effective manufacturing methods have been brought to light, the value of manufactured goods increased twelve-fold, while the invested capital in industrial pursuits multiplied twenty two times. (History of the United States pg. 270) The industrial revolution has not only brought economic prosperity in the United States, it has also jump-started the nation’s industrial growth. Throughout history, many of the big businessmen such as J.P. Morgan, John D. Rockefeller, and Andrew Carnegie, who control most of the big business during the period of the nineteenth century, are looked at in two different interpretations: Robber Barons or Entrepreneurial Statesman. Howard Zinn, a civil rights protestor and peace activist with a PhD from Columbia University, has written the paper, “Robber Barons and Rebels”, which supports the argument that the big businessmen are in fact Robber Barons. Zinn believed that the entrepreneurs of big business adopted business practices that encouraged monopolies and used the powers of government to control the masses from rebellion. Grover...
Words: 795 - Pages: 4
...late 1800’s, a group of innovative businessmen would change America’s standing in the world forever. Some of these men were Andrew Carnegie, John D. Rockefeller, J.P. Morgan and many more who contributed to industrial and economic change in the United States. They were not remembered as heroes by everyone. Some believe that their monopolizing ideas and ways of crushing their competition made them out to be “Robber Barons” rather than ¨Captains of Industry¨. They received a bad name because their success and the money they made, was at the expense of the working class. They revolutionized the American industrial system and boosted America’s place as a national manufacturing power, while also monopolizing businesses and hurting the working class. Where you find wealth, you'll find that the land contains monopolies. The Captains of Industry made money and revolutionized the American industrial system, boosted America’s place as a national manufacturing power, increased the standard of living in America by creating many jobs, and generously gave away their own money to various charities and organizations. There are multiple reasons why these big businessmen should be remembered as “Captains of Industry”. One example is their generosity towards the...
Words: 1092 - Pages: 5
...A captain of industry or a robber baron? Many big business owners were considered to be one or the other. I believe that big business owners were different in their ways and there is not one definition that defines them all. Many big business owners were captains of industry but there were many that were robber barons. Andrew Carnegie, for example, was a captain of industry. Carnegie was an immigrant from England that lived his life off the “pennies in his pocket.” Carnegie decided to invest heavily in steel after seeing a new method of making steel called the Bessemer process which he picked up in England and brought with him to America. Carnegie began to form the Carnegie Steel Company. Carnegie was defined as a captain of industry because...
Words: 266 - Pages: 2
...Captains of Industry? Or Robber Barons? [pic] Overview: The thirty years plus, following the end of the Civil War, is often referred to as the “Gilded Age”. This was a term coined by Mark Twain, the most renowned American writer of the period. It refers to a superficial period of intense economic growth. During this time, businessmen created large business organizations known as trusts. The ingenuity of these entrepreneurs earned the titles of “Captains of Industry”. Yet, their ruthlessness in building wealth at the expense of their competitors, workers and consumers often earned them the title “Robber Baron”. This DBQ (Document Based Questions) asks you to decide whether these businessmen were “Captains of Industry” or “Robber Barons”. Background Essay During the post-Civil War period, an era commonly referred to as the Gilded Age, the economy of the United States grew at a fantastic rate. With the exception of a recession during the mid-1870s, and another during the mid-1890s, the economic growth was in unprecedented in United States history. Manufacturing output increased by 180 percent. Railroads, an important catalyst of growth, increased in miles by 113 percent. Steel production grew to over 10,000,000 tons per year by 1900. Every aspect of the American economy expanded from traditional activities to new enterprises brought about by the huge influx of cutting-edge technological inventions. The gross national product almost doubled during the period and the per...
Words: 2205 - Pages: 9
...“Robbers of Barons” Robyn Brown National Paralegal College Assignment One “Robbers of Barons” During the Industrial Age, “Robber of Barons” consist a few people, who build and dominate the railroad, steel, finance, and oil to amass a personal fortune at the expense of the American people thorough eliminating the competition. “Robber of Barons” benefit the American people by creating jobs, making contributions to charities, exploring new business practices, investing into myriad of business, and expanding the business market. During the Industrial Age, the “Robbers of Barons” invest, encourage, and nurture inventions. This produce astronomical number of patents. From the beginning of American to 1860, there were only 36,000 patents issues. However, 440,000 patents were issued during1860 and 1890. (American History, n.d.) John D Rockefeller, a “Robber of Barons” benefit the American people by creating a monopoly among the oil industry without banks, because the rarity finding the oil deposits. Their competitors just dumped their waste into the river. When Standard Oil cornered the market, the company made a positive impact on the environment by making profit off their waste. As a result, people were aware of their environment. After the monopoly was dismantle, America realize the positive benefits it had on the infrastructure by no longer relying on the railroad. This benefit the American people, because business in the Industry Age depended heavily...
Words: 596 - Pages: 3
...I think the way Rockefeller lived and treated his people and workers would put him more in the category of a Robber Baron. In our text the is a nice with up help us understand what kind of man John Rockefeller was, “[Rockefeller’s company] killed its rivals, in brief, by getting the great trunk lines to refuse to give them transportation. Vanderbilt is reported to have said that there was but one man—Rockefeller—who could dictate to him”—H. D. Lloyd, The Atlantic, 1881 But I have to admit people change throughout their life, and Rockefeller did something that was quite astounding. He gave $500 million dollars to charity upon his death. I find that very impressive for a man with his reputation. “He was the first American to ever be worth over...
Words: 487 - Pages: 2
...trains were needed to move goods from the west to the east. This was Cornelius Vanderbilt’s area of expertise. John D Rockefeller was the founder of the Standard Oil Company, whereas Andrew Carnegie built a Steel Empire from the ground up. However all of these so-called, “geniuses” were robber barons, because they ridiculously rich through their ruthless business deals. The Gilded Age was exactly what the name means; having a pleasing or showy appearance that in all reality conceals something of little worth. Although everything seemed glitzy and glamorous on the outside that was not how it truly was. In 1890, 11 million of the nation’s 12 million families earned less the $1200 a year. From this, the average annual income was only $380, which was well below the poverty line. Many Americans and new immigrants crowded into urban areas, causing them to be teeming with crime and filth. Andrew Carnegie was the creator of the Steel Empire and is considered a Robber Baron because he rose to the top in a very unfair way. The other Robber Barons of this time were also unfair, but what they did was not as severe as to the degree of Carnegie. For example, Rockefeller used his wartime profits to finance his investment in Samuel Andrew’s oil refinery, which eventually led to him creating the Standard Oil Company that then led to his huge fortune. What Rockefeller did differently though was...
Words: 629 - Pages: 3
...The American industrialists changed the faces of American corporations. They aided the United States in becoming economically successful, motivated other businesses to strive more, and provided jobs to lower classes. American industrialists such as Andrew Carnegie, John D. Rockefeller, and J.P. Morgan were more captains of industry rather than robber barons. American industrialists were captains of industry, or industrialists who benefitted society, because they have made the United States more economically successful. For example, during a decline in silver prices, investors were encouraged to trade their silver dollars for gold dollars. The bars of gold stored by the United States Treasury fell to a dangerously low level, and President Grover...
Words: 532 - Pages: 3
...At the end of the Civil War in 1865, America found itself in a state of economic chaos. Within the following decade, capitalists introduced industrialization and helped shape a financially damned nation into industrial America. Historians used the terms “captains of industry” or “robber barons” to depict capitalists during America’s industrial movements between 1875 and 1900. While both names were used, these capitalists were deserving of their title as “robber baron” as most of them gained their wealth and power by ruthless means — at the endless toil of the poor, working class of people. Capitalists abused their workers with the provision of poor working conditions and low wages, even at times of inflation, to maximize their profits. Consequently,...
Words: 324 - Pages: 2
