...Josephson's and Brand's historical interpretations of business leaders who rose to prominence between 1865 and 1900 greatly differed. Josephson described these men as aggressive and lawless sometimes, and he said that nearly 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...
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...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,...
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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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...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,...
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...A robber baron is an American capitalist in the 19th century who acquired a fortune by ruthless and sometimes corrupt means. These wealthy businessmen were often owners or associates of monopolies. Even though robber barons were considered evil, the did contribute a lot to the American economy. Robber barons were good for our country because they rose the standard of living, helped with industrialization, and gave some of their money back to society. At that time, there were many big businesses that need a lot of people to work for them. Both Americans and European immigrants worked for the robber barons. There was a multitude of opportunities waiting for them, especially immigrants since they were constantly being sought after and hired...
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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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...- Burton W Folsom JR, professor of History and Management at Hillsdale College in Michigan, describe in his book “The Myth of the Robber Barons” the role of key entrepreneurs in the economic growth of the United States between 1850 and 1910. Portraying large businessmen behind America’s greatness. - In the Chapter 4 is told the life of Charles Schwab, grandson of immigrants in a modest family and who could not fail. It is from Loretto Pennsylvania that the story debuts and take a turn as Charles Schwab decide to leave his hometown, at the age of 17, to Carnegie’s mill. This is where he will quickly advance in the organization to become “Carnegie’s problem solver” and in 1897, at his 35 years old, becoming President of Carnegie steel and manage...
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...After the Civil War, an era known as the Gilded Age where US's economy was growing and cities was changing. Industrialist such as Carnegie and Rockefeller was crowned with the name of Captains of Industry and Robber Barons. The industrialist should be considered as Captains of Industry because they helped with the urbanization in the city, helped with US economy's growth, and donated large amount of money toward public organizations. One of the reasons why the industrialists are the Captains of Industry is because they helped with the urbanization. For example, "Workers in agriculture outnumber all other 52 to 48 percent in 1870, but by 1900 no farming labor constituted 60 percent of the workforce. In 1870 the nation had only twenty-five cities with...
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...Robber Barons Nikki Jakus – 5th In 1859, Frederick Douglass delivered a lecture in which h explained America's success as the effect of men's drive to conquer each new frontier they were faced with, whether it was the mysterious West, or the struggle for land and resources. They used theses invisible walls as motivation to fuel their drives in building a new nation from nothing. Thus the American Dream was born. These men, those who, born with none of the advantages/privileges of others yet managed to become great successes through their own hard work and determination, became known as Self Made Men. Rugged, independent, and driven: they became pioneers of their time. They lead the way in progress and innovation during the Gilded age. One of history's best know examples of a Self Made Man is Andrew Carnegie, the Steel king . Born in Scotland to hand loom weavers, his family immigrated to America when the mechanization of the cotton industry put them out of work. They settled down in Allegheny, PA where Carnegie worked as an errand boy in a textile mill to support his financially struggling family. He soon gained a job in a telegraph office where he proved himself dedicated when he memorized addresses and names. When his father died he was left the sole supporter of his family at age 20. With little education, Carnegie taught himself at the library and night school. While in the telegraph industry, he proposed new ideas that increased profit in Railways and communication...
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...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...
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...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...
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...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...
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...over the south, this inspired people to begin investing and building, along with influencing stocks and bonds. The people who did this were known as “robber barons”, which was a derogatory term to describe their greed. The rest of the economy was slowly realizing that these “robber barons” had much more power in the economy than many governments. In 1970 when the economy began its downfall into a depression, hundreds of thousands of people found themselves suddenly without a job. This led people to wonder if the robber barons would organize any types of charity to help out those less fortunate. Since these were the people who controlled all of the money, only time would tell if they would help out. Andrew Carnegie was the first robber baron to start donating, mostly to universities and libraries. Carnegie was not born wealthy, but slowly started off working as a messenger boy. He made such a strong impression that he was soon promoted to secretary, earning $35 a week. His superintendent at the railroad took a strong liking to him, often giving investment tips. He made good investments, which paid off big time. He learned how to produce steel and started a few plants, making more money than he had ever dreamed of. Carnegie’s goal was to earn $50,000 a year and anything else more, he could give away. Eventually another robber baron bought him company out, but this still left Carnegie with more money than he knew what to do with. The first great spending of his fortune was creating...
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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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...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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