There are two types of businessmen in this world, “Robber Barons” and “Captains of Industry”. “Robber Baron” is a idiom established during the United States Industrial Revolution of the 1800s. It is used to describe demeaning businessman that are wealthy industrialist, those who monopolize companies, and use unfair practices within their businesses. On the other hand “Captains of Industry” are positive businessman that contribute to the nation. For instance they provide jobs, increase productivity, expand the markets, and increase trade. Some even make generous philanthropies to the people who are less fortunate. Although it is good to be a “Captain of Industry”, Rockefeller and Walton were both degrading “Robber Barons”. From this moment forward …show more content…
It was not long after Rockefeller's death another “Robber Baron” was born. On March 29, 1918 in Kingfisher, Oklahoma, Samuel Moore Walton was born. Shortly after his birth, his family moved and was raised in Columbia, Missouri. He was studious and an amazing athlete at his high school. He was the quarterback for Hickman High School and an Eagle Scout. As graduation approached he was honored with the name “most versatile boy”. Once he graduated, he enrolled at the University of Missouri, Columbia. He finished in 1940 with a degree in economics. Walton took a small retailer job with the J.C Penney Company. Taking a loan from his father-in-law Sam decided to quit his job and create his first store in Newport, Arkansas based on the Ben Franklin …show more content…
Sam Walton was selling supplies cheaper than other companies that way people who were less fortunate could afford it. However people did not stop to notice he is putting companies around his out of business. Other local business are selling supplies normal priced or high end prices because of the quality. The quality from the retailer stores around Walmart is more reliable and durable. Also Sam Walton is receiving his merchandise from overseas which causes his products to be cheaper. All of his ideas are carried with him from his first job within the Ben Franklin Franchise. Within the culture Walton established, the company is not happy with the working benefits and conditions. They are given sparse wages and health care plans, and are asked to keep their expenses to an extent. Also the employees are working hourly overtime without pay, and some work over 70 hours a week. The employees are also expected to pitch in money whenever they can to help care for the building they are working in. For example, heating and
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On Friday, March 3, 2017, the students at Montevallo High School had a special speaker visit. His name is Jesse Jackson. The name sounds familiar because Jackson worked closely with Dr. Martin Luther King Jr. and the Civil Rights Movement. Jesse Jackson was born on October 8, 1941 in Greenville, South Carolina. When his mother was sixteen he was born out of wedlock to professional boxer and well-known figure in the black community, Noah Louis Robinson.
The charge about the old days of the American economy—the nineteenth century, the “Gilded Age,” the era of the “robber barons”—was that it was always beset by a cycle of boom and bust. Whatever nice runs of expansion and opportunity that did come, they always seemed to be coupled with a pretty cataclysmic depression right around the corner. Boom and bust, boom and bust—this was the necessary pattern of the American economy in its primitive state. In the US, in the modern era, all this was smoothed out.
In the gilded age of 1890’s and the early twentieth century. Four men had a negative and positive impact on the twenty-first century. John D. Rockefeller, Andrew Carnegie, J.P Morgan, and Cornelius vanderbilt were called robber barons. Robber barons were people who took over the economy by doing anything possible to take over. They did things like monopolizing railroads, banking industry , oil, and steel industries.
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
John D. Rockefeller, a captain of industry, was born the second child of six to William and Eliza Rockefeller. His father was a traveling salesman, and was often absent from home. Eliza, his mother, essentially raised all six of her children on her own. Never knowing that her husband had another woman in New York. In 1855, Rockefeller dropped out of high school to enter Folsom Mercantile College.
Born in Richford, New York in 1839, John Davison Rockefeller was the second child of his parents and had five siblings. He did not have an easy and wealthy childhood as his father was a part-time salesman and a full-time philanderer. Therefore, his mother always struggled hard for their livelihood and her first son had to stay away from his family to make more money for lengthy periods. Young Rockefeller helped with the general household chores and also earned extra income by raising turkeys and selling potatoes and candy. People described the young Rockefeller as a well-mannered, earnest and studious boy.
The four businessmen are Captains of Industry, they are Captains of Industry because they donated millions of dollars and some donated their personal collections to places. Eastman supported dental clinics for children who could not afford treatment and donated $2.5 million for the dental clinics in Rochester (website). Moreover he cared for children who were poor and didn’t have a lot of money. By supporting dental clinics for children, the children will grow up as the next generation and help others. Even Rockefeller was also a Captain of Industry because he donated $50,000,000 the board to raise academic salaries, he founded the General Education Board in 1903 to establish high schools throughout the South (reading).
Although the exact year of his birth is unknown, it is believed that George Walton was born sometime between 1940-50. He was born in Prince Edward Virginia to Robert and Mary Walton. His grandfather, also George Walton, had moved from England to Virginia in 1682. Walton’s family was poor and by the age of twelve, he was an orphan. Due to the death of his parents, Walton became an apprentice at a young age.
After the Reconstruction of America, we entered into a time referred to as “The Gilded Age”. In this time period, there were a few monumental companies that tried to be the one and only of their type, a few examples would be the US Steel Co., and the Standard Oil Co. These companies were rising up and trying to completely eliminate all other companies that would compete against them, and ultimately, have a monopoly on the product or service. At the time, this wasn’t illegal, but people who were trying to rival these grandiose companies were enraged. Therefore, they started calling them “Robber Barons” referring to the old ranks of nobility, where a baron was an owner of a large segment of land.
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.
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.
When Cornelius Vanderbilt died he left his $100 million fortune to his son William Vanderbilt and they both had the same attitude. During the Gilded Age these big business and their owners were thought of as being Robber Barons or Captains of Industry. The poor working conditions that were provided, the corruption they led in government, and their use of child labor shows that they were Robber Barons. Children were used in labor to work a lot and most days of the week. Kids as young as 5 often worked as much as 12 to 14 hours a day for barely any pay.
Thesis : After the Civil War, America was in a post-war boom. During the 1870-1890, big business moguls, such as Rockefeller and Carnegie, create huge corporations which not only affected the economy, but also affected the political realm of America. While many may assume that during the rise of these big business helped to change the economy and politics, the real focus was on the responses formed by society, such as labor unions, increase public outcry, and political opposition groups that helped to change society. A: Economically, big business flourished during the late 1800s.
Part of a captain of industries duty were to make sure that whatever he does whether it is “trust funds in which he administered”, it would have to benefit the community (DOC 2). Andrew Carnegie believed in Social Darwinism. Social Darwinism is the belief of the “survival of the fittest.” You are rich because God is rewarding and you are poor because you aren’t working hard