Barons Of Business: John D. Rockefeller, Andrew Carnegie And JP Morgan

The Barons of Business were known for making money and being very wealthy. Sure, they could run a business and make a profit off it but it was the way they created, ran and made the money. There were three main known barons: John D. Rockefeller, Andrew Carnegie and J. Pierpont Morgan. These three men made money in the most smart but illegal way possible.

John D. Rockefeller created the business called The Standard Oil Company. He could borrow money and buy out some of his partners. The Standard Oil Company did everything on their own from building barrels to employing scientists to help test their oil. However, as years passed he started being accused of certain things. He crushed out any competition he had, was getting rich on rebates from

Two years later, his company was dissolved by the Ohio Supreme Court. Andrew Carnegie was a self-made steel tycoon and was one of the wealthiest businessman. With his knowledge of the railroad and steel business, he opened his own business that became known as the Carnegie Steel Company. This company helped dominate the force in the industry and a wealthy business man. His company also helped fuel the economy and shape the nation. However, there were some people that felt the company’s success came at the worker’s expenses. The company had tried to lower wages of the employees and when that tried happening, the workers objected and refused to work anymore. This in turn started the Homestead Strike of 1892. In 1901 however, Carnegie made a big change by selling his company to the U.S. Steel Corporation. This earned him more than 200 million. At the age of 65, he spent the rest of his days helping others. John Pierpont Morgan was known as one of the most powerful bankers of his time. He financed railroads and helped organize U.S. Steel, General Electric and some other major corporations. Morgan was

The way the Gospel of Wealth was justified was that it was the duty of wealthy people to use their money for good towards the community. It was believed that they should donate large portions to the poor. The wealthy people would help others make money by using their own money. This was a big influence on American society because philanthropic works would receive large donations from those with large fortunes. Advocates of this idea greatly helped to advance social progress through contributions and donations. For Social Darwinism, it was only the fittest individuals survive, mainly in the market place. The benefits that the society thrives on is the elimination of the unfit and survival of the strong. They also had an influence on the American Society by the power of large industrialists and put credit and success of industries on fate and God instead of the