...of the Robber Baron,” shines a light on a common belief that entrepreneurs during the industrial revolution are robber barons. Burton Folsom’s main point, is that there are two types of entrepreneurs he uses in the book in order to separate the Robber Barons from the entrepreneurs, which I will discuss a little later. Robber Baron is a term that is used for entrepreneurs during the 19th century that used questionable or unethical means to build/attain wealth. They payed there workers low wages while also buying out the competitors that could not keep up with them. Once the competition was brought out and that company was the last one standing they would jack up their prices. As I discussed earlier, Burton Folsom separated the entrepreneurs into two groups, one he classifies as the political entrepreneurs, these are the entrepreneurs that tried to succeed through federal aid, pools, vote buying, or stock speculation. These are the entrepreneurs that rely heavily on government help and subsidies. The other group that he refers to is classified as market entrepreneurs, these are the entrepreneurs that tried to succeed by creating...
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...American Industrial Revolution changed America from a small country with isolated communities to a more unified industrial unit. (9) .There were five keys to America’s success in industrialization. (10). Railroads was America’s largest non-agricultural provider of employers. Railroads were very important because the created or pathed out the way for business for steel, iron, coal and many other important industries. The railroad industry also was the network connecting: farms, country, and towns together. So in doing so not only did railroads create pathways for many important industries, but also made communication easier between urban and rural civilizations. Congress directed most of their attention and focus towards railroads. It is said that railroads was the main reason of both the settlement and the development of the West. (24)...
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...Taking Sides: Were the Nineteenth-Century Big Businessmen “Robber Barons”? In the nineteenth-century, the United States experienced rapid industrial revolution and economic growth. Leading the way throughout the economic growth were big business owners. Scholars have disagreed on whether or not these big businessmen were robber barons. Howard Zinn believes that they were robber barons and that they encouraged monopolies and used government influence and power to further their success. John S. Gordon argues that businessmen such as Rockefeller and Carnegie affected the industry in a positive way that helped improve the lifestyle of average Americans. Howard Zinn supported his view that the nineteenth-century big businessmen were robber barons by explaining how some of the multimillionaires accumulated their fortune. Zinn immediately dispels the myth that these rich men started from poverty, and states that a study showed that 90% of these men were born into middle or upper class families.. Robber barons undercut their opponents forcing them to sell out to the bigger corporation allowing these men to keep their prices high. Zinn focuses a majority of his writing on how these big businessmen used the government to prevent rebellion against robber barons. Gordon explains that the consumer products Rockefeller and Carnegie developed improved the life of average Americans. He speaks a lot on the improved production of steel and the impact on the industry that resulted. Gordon...
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...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...
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...Robber Barons played a huge role in westward expansion as well as the connection between the eastern and western parts of the United States. Names such as Cornelius Vanderbilt, James Hill, and Edward Harriman were all railroad tycoons who shaped the way America transported goods, as well as themselves. After the civil war America entered a second industrial revolution, where capitalism grew, and business tycoons took advantage of poverty and dependence from the American public. These Business tycoons, also known as Robber Barons, were able to take advantage of the way the country was and make money off it. In the late 1800s, wealthy industrialists controlled much of America’s wealth. Many of these "Robber Barons" took advantage of post-Civil...
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...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...
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...This era let big companies believe that they were over the law and showed that money could serve as a bribe to buy a place within the government. This revolution also created a large gap within the social structure, the rich became richer and the poor, unfortunately, became poorer. This may have been a good time for America's working class and immigrants, but it was also a very bad time politics wise. Bribery, money, and returning favors was the key motivation of this era known as, the Era of Returning Favors. The growing class division within America during this time era created an issue in our democracy, because the labor workers were being treated unfairly. Individuals of the working class began working more hours for less pay, and they were being replaced by unskilled immigrants who would work for less. They faced unsafe condition every day. Also their bathroom and lunch breaks were limited...
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...Russia was a prime example of countries that industrialized later. (85). In time, the Gilded Age expanded and transformed into the era of reconstruction in the twentieth century. At one point, this age was considered to be just a transitional era filled with poverty, but now it is regarded as the beginnings of Modern America- the industrial and urban society (Desantis). Overall, the “best and worst” of times became another influential and important time period in American history. Although the United States became the most economically powerful country in the world, “[The Gilded Age] was a time of unprecedented progress and unimaginable poverty.” (Probasco.) In the end, “The Gilded Age was critical to the growth of the United States by introducing industrialization and technological advances.” (Probasco). The Gilded Age was a key factor in the transformation of the United States economy from agrarian to industrial, because after the age, it became the leading industrial nation in the world in that time...
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...The famous robber barons of the late eighteenth century, early nineteenth century were ruthless businessmen. Our group researched some of these famous barons. We researched Vanderbilt, Morgan, Carnegie, Rockefeller, and Duke. After researching each one the team decided which having a museum created in their memory and honor should honor one. Cornelius Vanderbilt was crude and ungenerous man that always got his revenge. Although he played a large role in the industrial revolution and created many jobs, by the end of his life he had only give away $1 million dollars to Nashville’s Vanderbilt University. During the Civil War he also donated his largest and fastest steamship, named the Vanderbilt and built for around $1 million, to the Union Navy. The vessel was used to chase down Confederate raiders. Andrew Carnegie was picked over Mr. Vanderbilt because Carnegie made more contribution to society and organizations. We did not pick J.P. Morgan because all he seemed to be involved with was banking which appeared to be boring to us. We did not find much personal information about Morgan and while he did give, he did not give much. The only interesting information we could find about Rockefeller is that he owned the Standard Oil Company after J.P. Morgan. Other than that, there weren’t many ideas created that...
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...In the late 19th century, the Industrial Revolution was a period of stark economic change and transitioned the economy into mass production and productiveness. New inventions, such as railways and assembly lines, allowed the creation of factories and a revolutionized style of labor, which allowed uneducated and unskilled immigrants to dominate assembly lines with numbers. The mass influx of immigrants seeking economic opportunity was the contributing factor to industrial success because the constant supply of jobs meant that big businesses did not have to protect their workers or offer them good wages. As big business owners continually took advantage of their laborers, unions formed and the people’s response began. The Progressive Era, a time of social reform and self-advocacy, ensued in...
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...happening. From the time of the Industrial Revolution where real and practical innovation stated to begin at a rapid pace until today. Still innovation and expansion are always prevalent. Innovation and expansion have brought along many changes in politics, social aspects of life, and the economy. So, how has expansion and innovation brought social, political, and economic changes the the United States from the time of the Industrial Revolution to the present? Robber Barons at the time of the Industrial Revolution had a huge influence...
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...In the novel published by Mark Twain, titled The Gilded Age, the report of “glittering” and “greed and guile” is depicted by the unstoppable and questioned corruption – the “vulgar display” of hypocrisy to be divulged. An era of regression; enforced by the coat of avarice to obedience, by the means of economic gluttony, political inequality, and social iniquity. In the late 19th Century, the commodity and monopoly forced to mislead the minorities through the higher power of the bitter and richer businesses, companies, and corporations. The American’s degradation, exploitation, and oppression exposed the citizen’s and immigrant’s illusion for a democracy. The generation burned, while factories and machines championed and dictated to manipulate...
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...events revolutionized the way Americans lived, no matter which region they called home.” (Schultz, 2013). Industrialization after the Civil War When the Civil War was over, the United States was changed into a more industrialized nation due to industrialization that was being created. The three broad aspects of development I feel that influenced the US between 1865 and 1920 are the economy, politics, and society. The economy, however, was significantly impacted because we started out mostly as an agricultural country but as the 1800’s ended our industries were expanding. By the 1900’s, we were becoming the world’s chief industrial authority. The northern states developed more quickly than the southern ones because they focused on increasing their productivity. The Industrial Revolution is being described as the change in the way that goods were made and sold, as the businessmen...
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...Shift To The Progressive Era Following the Civil War, the mid-19th century brought a second industrial revolution. Many technological advances took place during this time, which gave way towards the beginning of the Gilded Age. Although the Gilded Age brought great economic improvement, many suffered. The economic development that this era brought to America was very appealing to immigrants, and America experienced a large influx of European immigrants towards the latter part of the 1800’s. Despite the technological and economic improvements of the Gilded Age, only a small percentage of the population in America reaped the benefits of this. Living and working conditions were abysmal, and tensions rose within the large, yet poverty ridden middle...
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...the short span of 55 years between 1865 and 1920 the Industrial Revolution brought vast expansion of big business and a change to the American people. Lad by Henry Ford’s assembly line industrial powers such as Carnegie, Huntington, and Rockefeller emerged and built their empires. Birthed from these industrial empires we witnessed the growth of legislation and laws that where susceptible to manipulation by the development of corrupt politics. With the surge in technology, growth of super powers, environmental issues, government legislation, or corrupt business practices or corrupt government the industrial revolution exploded in a time where change was needed to draw the American eye away from the deadly Civil War, which so many where still attached to, and focus on the theoretical idea “a better way of life”. The Industrial Revolution was sold to the American people with the false since that if you work hard you will acquire wealth. This lie to the populace was met with a flood of American and immigrant workers that swarmed to the workforce for low wages and unhealthy work environments. Imbedding this idea into the American workforce the Industrial Revolution spawned business power houses like Carnegie, Huntington, Ford, and Rockefeller. The Industrial Revolution also bestowed on us the corrupt business and political practices that shaped the laws and regulations that are practiced today. The Industrial Revolution saw itself spawn from three industries that led the...
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