Pros And Cons Of Robber Barons

In source one, John Maynard Keynes is very sarcastic in his quote. When Keynes says, “wickedest of men will do the wickedest of things for the good of everyone,” he is referring to the big, rich business owners and corporations. These corporations run their businesses off of their own self-interest, and in the end, they lay many people off while saying it is for the good of the economy. Keynes’s theory is that during a recession the government needs to spend more to help the economy, during good economic times the government needs to increase taxes and save it. When the Great Depression hit in 1929, many were unable to eat and were homeless.

“....fearful the poor would plunder the rich… (they) admitted that the rich, unrestrained, would also plunder the poor (Hofstadter 57).” One class can not have too much power because it would lead to an anarchy. This document meant to hold up a democracy, not anarchy. The reason why the rich benefitted from the system was because if they had not, the social classes would have been

During the Industrial Revolution many business leaders were very successful. American people at the time were controversial as to if these Big Businessmen were robber barons or captains of industry. This dispute even continues into present time. Business men should be considered captains of industry. A captain of industry is defined as “a business leader whose means of amassing personal fortune contributes positively to the country in some way.”

Karl Marx was the founder of conflict theory. Conflict theory examines the difference between ranks or classes in material and nonmaterial resources that cause conflict. The classes, with more power use that power to exploit the weaker or powerless classes. Marx originally thought the classes would become equal with time, however, with the big push to make profit and the new technologies of America the gap between the rich and the poor is only widening. Consequently, the rich become richer and the poor become poorer.

However, Moore suggest that Capitalism has not always been a crisis, which he reiterates the story of his life and further explains that his dad received a substantial pension and benefits. Moore spoke proudly of growing up in an economic bang that have expanded the industrialization. There were high taxes on the rich, which created lucrative jobs for the average person and also investments in education and infrastructure. The power of the union and high taxes on the wealthy created a balance in the system.

According to Neal (2007, p.46) “Potent social forces [capitalism, patriarchy, imperialism, home ownership] do exist and being homeless is to lose a stake in several of them” This paper will explore three different theoretical approaches to addressing the homeless problem that plagues our society from three different social theorists in the historical context of Classical, modernist and postmodern. Karl Marx, a social theorist from the classical era challenged the status quo by illustrating the effect the rich bourgeoisie had on the proletariat. According to Marx the bourgeoisie, represented the rich oppressors who exploited the working class.

The horrible working conditions in various industries caused respiratory and other problems for the workers which called for strikes for better working conditions. The socialists started posing a challenge to the capitalists as they demanded a proper division of wealth. The highs were too high and the lows were too low in the Gilded Age which was not tolerable. This led to the creation of labor unions which demanded economic freedom and industrial democracy. The government had been siding with the rich capitalists who were helping in flourishing the economy of the country.

These residents are also wealthy, but have obtained their wealth in a much different way than the East Eggers have. West Egg residents have had to work for their money, usually through entrepreneurship. This is the sole reason why East Eggers place them in a lower spot on the social totem pole, and shun those who attempt to be one of them. This then causes social stratification between the two Eggs. F. Scott Fitzgerald’s commentary on social stratification in The Great Gatsby greatly ties to the social stratification of the 1920’s.

Progressivism began as a social movement and grew into a political movement. This idea believes that free markets are unfair as they favour large corporations and the wealthy over the middle class. They believe that a fair market means equal distribution of wealth to diminish income inequality. They also believe that workers should receive a comprehensive package which includes public education, social security, rights of trade unions, etc. Progressivism gained a strong voice when Theodore Roosevelt came into presidency in 1901.

Whereas, a child from the middle class or the poor works hard to pursue the "American dream" because they are driven to better their lives. For example, the wealthy could be taxed at a more extensive rate. But then

As industry exponentially grew after the Civil War, the need for labor and materials to power newly-created manufacturing giants caused new social classes to form: the rich corporation owners and the poor laborers. Unfathomably rich Robber Barons, or plutocratic American Capitalists, dominated the economy and industry and profited from the slave-like work of millions of poor laborers during this time period. Moreover, the poor working class and the rich further divided by distribution of wealth. Therefore, exploitation of capitalism widened the gap between the rich and poor classes of America, and both newly-formed classes developed reasons for the change.

In 1900, New York became the second largest city in the world. This was the result of monopolies capitalizing in America. Industries were booming; however, the common people were suffering greatly. The men behind these monopolies, incorrectly known by many as captains of industry, are more accurately known as robber barons. While this remains true, the business men of the Gilded Age were captains of industry to an extent.

In Andrew Carnegie’s essay “Wealth,” he believed that he had a responsibility to spend his money on something to benefit the greater good. He believe that the rich should distribute their wealth responsibly to benefit society. One of his quotes say, “The man who dies thus rich dies disgraced.” Carnegie starts off talking social Darwinism, the issue of inequality and how and if he could fix it. Capitalism ensured that the smartest and most talented people would rise to the top.

The rich use tactics to gain the support of the middle class, but without losing any of their own riches, like wealth or power, for their own gain. It was at the cost of the “slaves, Indians, and poor whites” (Zinn 1). It spared the rich any expenses, but brought them much gain, from the support. Finally, the growth of the colonies positively impacted the rich as well, as they received the profits and benefits from the expansions. With one percent of property owners owning forty four percent of the wealth, it shows how the majority of the wealth was given to the rich, and not distributed among the other classes at all, deepening the division.

Armey also notes that “the tax code actually punishes savings and investment, by placing double or even triple tax burdens on capital. This lowers wages, destroys jobs, and depresses the living standards of all Americans.” The tax code needs to be reformed and a national sales tax is the best way to fix things. Although opponents may claim that it is regressive, the United States of America should reform its tax code by replacing income tax with sales tax because a national sales tax would cause our industry to grow, revolutionize our work force, and eliminate tax