Robber Barons vs Captains of Industries
The Industrial age was a period of economic and manufacturing growth full of mass production and expansion of large industries. During this time there were people who were called Captains of Industry who were leaders and innovators of business who employ thousands of workers and establish philanthropic foundations (charities). For example, John D. Rockefeller donated to many different charities to help other people. Also people called Robber Barons which were people who amassed great wealth through unfair and questionable business practices who used their money to gain power. For example, Cornelius Vanderbilt never spent his money on anything besides donating one million dollars to the construction
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Andrew Carneige is a businessman during the Industrial age who treated workers very poorly by never ever giving them breaks on working besides for one holliday, July fourth. He also paid his workers as little as possible so he could keep most of the money for himself as did many other businessmen during this time. The workers and businessmen had very different points of views on what they were doing because the workers thought that they needed to work less since they barely see their families and also always going to be tired when they work the next day. The businessmen thought they were doing the right thing because they thought that every time people get something they always ask for more and the businessmen thought the workers were asking for too much money. The cartoonist Gilliam showed that the workers were lifting up the businessmen while they were holding their money and the workers were also blocking the rising tide of “hard times” by focusing on the stomachs of the businessmen being money bags and the workers being all hunched over looking tired holding up a long piece of wood and the tide saying hard times on it (Doc D). While the businessmen paid workers very little, the men used some of their money to influence government …show more content…
J.P. Morgan was an example of this because he used his money to influence the government to stabilize American financial markets during several economic crises, but when he has done this, he has faced criticism of people saying he had too much power and was accused of manipulating the nation’s financial system for his own. The way the businessmen used their wealth to influence the government was very unfair because of how there were not as many people that were wealthy than very poor, so the wealthy people had a really high advantage on what they would do. In the article “Business of America” the author stated “They amassed fortunes that funded palatial mansions and elaborate lifestyles. In addition, they influenced the government toward policies that favored business” (Doc C). This quote meant what i said before, that when the businessmen used their money to bribe the government, they would do anything for men and make any decision they want just for themselves. The workers during this time could basically not make any decisions because of the wealthy
They would donate high amounts of money to hospitals and schools to help improve society. Other examples are JP Morgan, Andrew Mellon, Andrew Carnegie, and Henry Clay Frisk. They
The Robber Barons’ Climb to Success The Robber Barons came out of the 1850’s when the people of America were torn on what values their country ought to entertain. With the Civil War on the brink of erupting the country became divided over what their future should be. A few select men took advantage of this time of ambiguity and confusion to make a profit.
When it comes to the phrase “sharing is caring”, not too many business leaders followed it. Ironically, there were a few stingy industrialists who happened to have a generous heart. John D. Rockefeller, J.P.Morgan, and Andrew Carnegie are a few examples of individuals known for “money-hogging” in the 19th century. Although a couple of these robber barons started off as people who did not give back to their community, they managed to become captains of industry in the end. What are robber barons and captains of industry?
Robber Barons believed in a laissez-faire government. Robber Barons at this time were the wealthy owners of large businesses, and big businesses wanted a laissez-faire government. If the economy was run in a hands off way, it wouldn’t be regulated. Big business owners would not want a regulated economy because it would prevent them from expanding and getting more money. “Among the great misconceptions of the free economy is the widely-held belief that laissez-faire embodies a natural tendency toward monopoly concentration” (Reed).
The robber barons did everything they can to keep wealth. These men acted like they were helping the people but the truth is they were helping themselves not the society. They forced the society by charging out difficult rates, and discriminating against small businessmen. In American politics, the
Webster Dictionary defines a robber baron as “an American capitalist of the latter part of the 19th century who became wealthy through exploitation (as of natural resources, governmental influence, or low wage scales) [or/and] a business owner or executive who acquires wealth through ethically questionable tactics”. This definition impeccably defines Cornelius Vanderbilt and his ethical morals in his approach to business and economics in which he consistently took advantage of and caused harm to the lower classes. One example of this that is often undermined is the story of Vanderbilt during the California Gold Rush. Vanderbilt went to California to gain money and wealth through the gold rush, however when a company that was working with Vanderbilt refused to pay him, Vanderbilt swore to ruin them.
Robber Barons and Captains of Industry Some might believe that the businessmen of the Gilded age are robber barons because of how some of them treated their workers and spent their money. The businessmen of the Gilded Age were captains of industry because of the impact that they made on the country. Carnegie, Rockefeller, Morgan, and Vanderbilt all have done things that can identify them as captains of industry. These businessmen gave their time and effort to help the economy grow.
Was John D. Rockefeller a robber baron? I’d say so. Through ruthless business tactics and exploitation of workers, he made a fortune in his lifetime. In this paper, I’m going to be talking about said business tactics and exploitation. If you believe Rockefeller was just a good business man who donated to the poor, I hope your view will be changed by the end.
(doc7) says otherwise because it shows a graph of how much John D. Rockefeller donated to different organizations like Yale,Rockefeller Foundation,etc.. he did not make any money from these organizations, this shows that some of these businessmen actively tried to better the community and economy by giving back. The purpose of this document is to show how big of an impact Business leaders could have had if they decide to use their wealth to help the community because now we can still see these organizations prospering like Yale
During J. P. Morgan’s time, Morgan himself was in a position to loan the Federal government huge sums of money. In essence he indirectly controlled the federal government and influenced their policies to serve his interests. He considered it a form of nationalism by doing so, even though he was rewarded handsomely in the form of interest paid back on the loan. The amount of wealth amassed by the top 1% of the population began to unnerve the American public and politicians alike. The rich got richer while the rest remained stagnant or became poorer.
During the period of the gilded age, the U.S led the industial world in workplace deaths by a large margin due to poor sanitation, and low factory safety. Another result of this shift in the economy towards being centered around big businesses was the growing wealth gap; the rich got exponentially richer and the poor became more destitute than ever. Those who worked for these
I believe he is a captain of Industry. What made you categorize your choice as a Robber Baron or Captain of Industry? I believe Henry Ford is a Captain of Industry whose contribution was vital to this country place as a great industrial power. He uses his skills and social position to revolutionize the automobile industry, provide cars in a more affordable price and give his employers better and steady wages.
Justification of this is seen in Document 3, as Andrew Carnegie writes, “The problem of our age is the proper administration of wealth so that the ties of brotherhood may still bind together the rich and poor in harmony.” Surely, a manipulative man would not believe in such fair distribution of wealth. Carnegie is also famous for large charitable donations, meaning his business methods were not enacted solely for his own benefit. This statement highlights Carnegie’s compassionate side and proves that he is not completely a “robber baron.” Similarly to Carnegie, Rockefeller’s compassionate side is also portrayed in Document 7.
His work, The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy, allows readers to see a more picture perfect outlook on what the lives of these men entitled. Morris’s book was published in 2005, which allows readers to get a perspective from a long period of time and closer to reality rather than other historians writing on this era. The last author that allows readers to view the Robber Barons in a different manor is James Nuechterlein in his journal article Gifts of the “Robber Barons.” Nuechterlein wrote this article in 2007 allowing readers to view the men through historical resources that he uncovered. His stance shows a more balanced approach to the Robber Barons rather than saying one or the other was a better man than the other.
Robber barons, specifically Andrew Carnegie, an industrialist and John D. Rockefeller, a philanthropist, were the chosen, elite members of society according to the doctrine of Social Darwinism. Darwinism is when evolution occurs and the strongest organisms of an ecosystem survive and reproduce to outnumber the weaker, less fit organisms of an ecosystem. Similarly Social Darwinism follows the same concept, but in a capitalist sense of thought. Those who were able to exploit the Gilded Age’s laissez faire economy to their own benefit, like the robber barons Andrew Carnegie of Carnegie Steel and J. D. Rockefeller of Standard Oil, were the fittest members of society because they were able to survive in the grueling and ruthless free economy. By usurping all of the fresh yet unfit immigrants that were flowing into the States due to the rise of urbanization, these two men integrated these easily-manipulated people into their factories to augment their profits.