Premium Essay

Were the Nineteenth-Century Entrepreneurs "Robber Barons"?

In:

Submitted By Freshrice
Words 795
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 Cleveland, after being elected President of the United States in 1884, was paid off by Jay Gould who said to him, “I feel… that the vast business interests of the country will be entirely safe in your hands.” (History of the United States pg. 275) One example of him trying to control the masses from rebellion was in 1893, when he “used troops to break up “Coxey’s Army,” a demonstration of

Similar Documents

Premium Essay

Andrew Carnegie: Robber Baron Or Captain Of Industry

...America was built on industry. But, who were the entrepreneurs that actually brought up this industry? In the early years, there were two terms known widely: a robber baron, and a captain of industry. A robber baron is defined as “an unscrupulous plutocrat, especially an American capitalist who acquired a fortune in the late nineteenth century by ruthless means.” However, a captain of industry is defined as “a business leader whose means of amassing a personal fortune contributed positively to the country in some way.” Andrew Carnegie is a name known widely, and still to this day. But, there are conspiracies: was he a robber baron, or captain of industry? Andrew Carnegie was born on November 25th, 1825 in Dunfermline, UK. He was born into a...

Words: 610 - Pages: 3

Premium Essay

Student Enrollment

...K-Sean Burrell April 24, 2013 HIS 152 Were the nineteenth century entrepreneurs Robber barons or captains of industry? Captains of Industries played a major role in the economic development of the United States during the late nineteenth century. Persevering from poverty, powerful industrialists such as John Rockefeller, Andrew Carnegie, J.P. Morgan, and Cornelius Vanderbilt became the utmost wealthiest businessmen in America. Driven by one motive, wealth, these men were able to control entire sectors of the economy. Interestingly, this process created new jobs, increased the availability of goods, and monetary donations towards the welfare of the people helped establish libraries, museums and colleges. Each individual is a “captain of industry” because they positively advanced establishments leading to great success for American society. Revolutionizing the petroleum industry, John D. Rockefeller founded the Standard Oil Company in 1870 which helped businesses such as the railroad with their tariff flow. John D. Rockefeller was a genius businessman with an ambition for success. Rockefeller was able to reduce his competition by inventing new ideas such as “quantity discount”, which would charge less if the customer bought more. Rockefeller could persuade individuals to purchase his oil instead of competitors because it appeared cheaper. Quoted by John D. Rockefeller in an interview with William Hoster “I believe the power to make money is a gift of God ... to...

Words: 1093 - Pages: 5

Premium Essay

Gilded Age Research Paper

...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...

Words: 2091 - Pages: 9

Premium Essay

Josephson Robber Barons

...all of them did not act with morals. Josephson even referred to these business leaders as robber barons which are "attributed to any successful businessman or woman whose practices are considered unethical or unscrupulous." Staff, Investopedia. “Robber Barons.” Investopedia, 7 Apr. 2005, www.investopedia.com/terms/r/robberbarons.asp. In contrast, Brands described these men as innovative and creative, and he even called them captains of industry. So, he had a more positive view of them than that of Josephson's. One...

Words: 1164 - Pages: 5

Premium Essay

History 12

...world that had consisted of small farms, artisans’ workshops, and small factories transformed into a full-scale industrial society. ” The Art Archive / Culver Pictures As the process of ensuring political, economic, and social rights of African Americans waned during the 1870s, most Americans turned their attenNo invention had more lasting impact than the incandestion to another transformacent light bulb. tion brought on by the Civil Strongly Disagree Strongly Agree War: the Industrial Revolution. 1 2 3 4 5 6 7 During the half-century between 1865 and 1915, the United States evolved from a relative economic backwater to become the most powerful economy in the world. Industrialization played a key role in the nation’s advances, and both the Civil War and a core group of innovative, aggressive, farsighted, and opportunistic entrepreneurs were the main stimulants of growth. They embodied the optimism and inventiveness of the late nineteenth century, although they often pushed too far and engaged in practices we now see as unethical and corrupt, leaving wide gaps between the rich and the poor, between black and white, and between immigrant and native. Like...

Words: 5016 - Pages: 21

Free Essay

Discussion

...national, state, and local politics during the late 1800s. 17-4 Describe the formation of the early labor unions in the United States, including their goals, activities, and situations at the end of the nineteenth century. 290 C h apt e r 15 The Continued Move West “ The world that had consisted of small farms, artisans’ workshops, and small factories transformed into a full-scale industrial society. ” As the process of ensuring political, economic, and social rights of African Americans waned during the 1870s, most Americans turned their attenNo invention had more lasting impact than the incandestion to another transformation cent light bulb. brought on by the Civil War: the Strongly Disagree Strongly Agree Industrial Revolution. During 1 2 3 4 5 6 7 the half-century between                                                    1865 and 1915, the United States evolved from a relative economic backwater to become the most powerful economy in the world. Industrialization played a key role in the nation’s advances, and both the Civil War and a core group of innovative, aggressive, farsighted, and opportunistic entrepreneurs were the main stimulants of growth. They embodied the optimism and inventiveness of the late nineteenth century, although they often pushed too far and...

Words: 10590 - Pages: 43

Free Essay

English Lit

...The Age of Revolution i789-1848 E R I C HOBSBAWM FIRST VINTAGE BOOKS EDITION, AUGUST 1996 Copyright © 1962 by E. J. Hobsbawm All rights reserved under International and Pan-American Copyright Conventions. Published in the United States by Vintage Books, a division of Random House, Inc., New York. Originally published in Great Britain in hardcover by Weidenfeld & Nicolson, London, in 1962. Library of Congress Cataloging-in-Publication Data Hobsbawm, E.J. (EricJ.), 1917The Age of Revolution, 1789-1898 / Eric Hobsbawm.—1st Vintage Books ed. p. cm. Originally published: London : Weidenfeld & Nicolson, 1962. Includes bibliographical references (p. ) and index. ISBN 0-679-77253-7 1. Europe—History—1789-1900. 2. Industrial revolution. I. Title. D299.H6 1996 940.2'7—dc20 96-7765 CIP VINTAGE BOOKS A Division of Random House, Inc. New York Random House Web address: http://www.randomhouse.com/ Printed in the United States of America 10 9 8 7 6 CHAPTER MAPS 1 T H E W O R L D IN T H E 1780s Le dix-huittime stick doit lire mis au Panlhion.—Saint-Just1 i Europe in 1789 page 309 2 Europe in 1810 310 3 Europe in 1840 311 4 World Population in Large Cities: 1800-1850 31a 5 Western Culture 1815-1848: Opera 314 6 The States of Europe in 1836 316 7 Workshop of the World 317 8 Industrialization of Europe: 1850 318 9 Spread of French Law 320 I T H E first thing to observe about the world...

Words: 21388 - Pages: 86

Premium Essay

Fallacy of Taking Development to the People

...DEPARTMENT OF AGRICULTURAL AND RESOURCE ECONOMICS AND POLICY DIVISION OF AGRICULTURAL AND NATURAL RESOURCES UNIVERSITY OF CALIFORNIA AT BERKELEY Working Paper No. 887 FALLACIES IN DEVELOPMENT THEORY AND THEIR IMPLICATIONS FOR POLICY by Irma Adelman Copyright © 1999 by Irma Adelman. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. California Agricultural Experiment Station Giannini Foundation of Agricultural Economics May, 1999 FALLACIES IN DEVELOPMENT THEORY AND THEIR IMPLICATIONS FOR POLICY. by Irma Adelman I. Introduction No area of economics has experienced as many abrupt changes in leading paradigm during the post Word War II era as has economic development. Since economic development is a policy science, the twists and turns in development economics have had profound implications for development policy. Specifically, the dominant development model has determined policy prescriptions concerning the desirable: role of government in the economy; its degree of interventionism; the form interventionism; and the nature of government-market interactions. Changes in both theory and policy prescriptions arise mainly from the following five sources: First, there is learning. As our empirical and theoretical knowledge-base enlarges, new theoretical propositions, or new evidence concerning either resounding real-world successes...

Words: 13335 - Pages: 54

Premium Essay

Drucker

...The Essential Drucker BOOKS BY PETER F. DRUCKER MANAGEMENT The Essential Drucker Management Challenges for the 21st Century Peter Drucker on the Profession of Management Managing in a Time of Great Change Managing for the Future Managing the Non-Profit Organization The Frontiers of Management Innovation and Entrepreneurship The Changing World of the Executive Managing in Turbulent Times Management: Tasks, Responsibilities, Practices Technology, Management and Society The Effective Executive Managing for Results The Practice of Management Concept of the Corporation ECONOMICS, POLITICS, SOCIETY Post-Capitalist Society Drucker on Asia The Ecological Revolution The New Realities Toward the Next Economics The Pension Fund Revolution Men, Ideas, and Politics The Age of Discontinuity Landmarks of Tomorrow America’s Next Twenty Years The New Society The Future of Industrial Man The End of Economic Man AUTOGRAPHY Adventures of a Bystander FICTION The Temptation to Do Good The Last of all Possible Worlds --------------------------------------------------------------------------- A DF Books NERDs Release THE ESSENTIAL DRUCKER. Copyright © 2001 Peter F. Drucker. All rights reserved under international and Pan-American Copyright Conventions. By payment of the required fees, you have been granted the non-exclusive, non-transferable license to access and read the text of this e-book on screen. No part of this text may be reproduced, transmitted, down-loaded, decompiled, reverse...

Words: 109564 - Pages: 439

Premium Essay

23 Things

...23 Things They Don’t Tell You about Capitalism HA-JOON CHANG Department of Economics, Cambridge University 23 Things They Don’t Tell You about Capitalism HA-JOON CHANG ALLEN LANE an imprint of PENGUIN BOOKS Published by the Penguin Group Penguin Books Ltd, 80 Strand, London WC2R 0RL, England Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, USA Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario, Canada M4P 2Y3 (a division of Pearson Canada Inc.) Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Group (Australia), 250 Camberwell Road, Camberwell, Victoria 3124, Australia (a division of Pearson Australia Group Pty Ltd) Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Dehli – 110 017, India Penguin Group (NZ), 67 Apollo Drive, North Shore 0632, New Zealand (a division of Pearson New Zealand Ltd) Penguin Books (South Africa) (Pty) Ltd, 24 Sturdee Avenue, Rosebank 2196, South Africa Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R 0RL, England www.penguin.com First published 2010 Copyright © Ha-Joon Chang, 2010 The moral right of the author has been asserted All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording...

Words: 86029 - Pages: 345

Premium Essay

Manajemen

...Management Revised Edition Peter F. Drucker with Joseph A. Maciariello Contents Introduction to the Revised Edition of Management: Tasks, Responsibilities, Practices Preface 1 2 3 Part I 4 5 6 7 Part II 8 9 10 11 Part III 12 Introduction: Management and Managers Defined Management as a Social Function and Liberal Art The Dimensions of Management Management’s New Realities Knowledge Is All New Demographics The Future of the Corporation and the Way Ahead Management’s New Paradigm Business Performance The Theory of the Business The Purpose and Objectives of a Business Making the Future Today Strategic Planning: The Entrepreneurial Skill Performance in Service Institutions Managing Service Institutions in the Society of Organizations vii xxiii 1 18 26 35 37 45 51 65 83 85 97 113 122 129 131 iv Contents 13 14 15 16 Part IV 17 18 19 Part V 20 21 What Successful and Performing Nonprofits Are Teaching Business The Accountable School Rethinking “Reinventing Government” Entrepreneurship in the Public-Service Institution Productive Work and Achieving Worker Making Work Productive and the Worker Achieving Managing the Work and Worker in Manual Work Managing the Work and Worker in Knowledge Work Social Impacts and Social Responsibilities Social Impacts and Social Responsibilities The New Pluralism: How to Balance the Special Purpose of the Institution with the Common Good The Manager’s Work and Jobs Why Managers? Design and Content of Managerial Jobs Developing...

Words: 243737 - Pages: 975

Premium Essay

Research Report 16

...RESEARCH REPORT 16 CORPORATE SOCIAL RESPONSIBILITY A ROLE IN GOVERNMENT POLICY AND REGULATION? Constantina Bichta The University of Bath School of Management is one of the oldest established management schools in Britain. It enjoys an international reputation for the quality of its teaching and research. Its mission is to offer a balanced portfolio of undergraduate, postgraduate and post-experience programmes, research and external activities, which provide a quality of intellectual life for those involved in keeping with the best traditions of British universities. CORPORATE SOCIAL RESPONSIBILITY A ROLE IN GOVERNMENT POLICY AND REGULATION? Constantina Bichta Desktop published by Jan Marchant © The University of Bath ISBN All rights reserved Centre for the study of Regulated Industries (CRI) The CRI is a research centre of the University of Bath School of Management. The CRI was founded in 1991 as part of the Chartered Institute of Public Finance and Accountancy (CIPFA). It transferred to the University of Bath School of Management in 1998. It is situated on the 8th floor of Wessex House (North), adjacent to West car park. The CRI is an interdisciplinary research centre investigating how regulation and competition are working in practice, both in the UK and abroad. It is independent and politically neutral. It aims to produce authoritative, practical contributions to regulatory policy and debate, which are put into the public domain. The CRI focuses...

Words: 42736 - Pages: 171

Free Essay

The (Un)Official United States History Cram Packet

...The (un)Official United States History Cram Packet This is not intended as a substitute for regular study ……. But it is a powerful tool for review. 1494: Treaty of Tordesillas – divides world between Portugal and Spain 1497: John Cabot lands in North America. 1513: Ponce de Leon claims Florida for Spain. 1524: Verrazano explores North American Coast. 1539-1542: Hernando de Soto explores the Mississippi River Valley. 1540-1542: Coronado explores what will be the Southwestern United States. 1565: Spanish found the city of St. Augustine in Florida. 1579: Sir Francis Drake explores the coast of California. 1584 – 1587: Roanoke – the lost colony 1607: British establish Jamestown Colony – bad land, malaria, rich men, no gold - Headright System – land for population – people spread out 1608: French establish colony at Quebec. 1609: United Provinces establish claims in North America. 1614: Tobacco cultivation introduced in Virginia. – by Rolfe 1619: First African slaves brought to British America. 15. Virginia begins representative assembly – House of Burgesses 1620: Plymouth Colony is founded. - Mayflower Compact signed – agreed rule by majority • 1624 – New York founded by Dutch 1629: Mass. Bay founded – “City Upon a Hill” - Gov. Winthrop - Bi-cameral legislature, schools 1630: The Puritan Migration 1632: Maryland – for profit – proprietorship 1634 – Roger Williams banished from Mass. Bay Colony 1635:...

Words: 7863 - Pages: 32

Premium Essay

Mcdonalds

...Licensed to: CengageBrain User Licensed to: CengageBrain User This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Licensed to: CengageBrain User Organization Theory & Design, Eleventh Edition Richard L. Daft With the Assistance of Patricia G. Lane Vice President of Editorial, Business: Jack W. Calhoun Publisher: Erin Joyner Executive Editor: Scott Person Developmental Editor: Erin Guendelsberger Sr. Editorial Assistant: Ruth Belanger Marketing Manager: Jonathan...

Words: 29680 - Pages: 119

Premium Essay

California an Interpretive History - Rawls, James

...CALIFORNIA CALIFORNIA An Interpretive History TENTH EDITION James J. Rawls Instructor of History Diablo Valley College Walton Bean Late Professor of History University of California, Berkeley TM TM CALIFORNIA: AN INTERPRETIVE HISTORY, TENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2008, 2003, and 1998. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1234567890 QFR/QFR 10987654321 ISBN: 978-0-07-340696-1 MHID: 0-07-340696-1 Vice President & Editor-in-Chief: Michael Ryan Vice President EDP/Central Publishing Services: Kimberly Meriwether David Publisher: Christopher Freitag Sponsoring Editor: Matthew Busbridge Executive Marketing Manager: Pamela S. Cooper Editorial Coordinator: Nikki Weissman Project Manager: Erin Melloy Design Coordinator: Margarite Reynolds Cover Designer: Carole Lawson Cover Image: Albert Bierstadt, American (born...

Words: 248535 - Pages: 995