There are so many views when considering the industrialists of late 19th century to be captains of industry while others consider them as Robber barons because they like practicing a system called the monopoly. Monopoly . they built huge companies and practice unfair businesses; which make them drive their counterparts out of business; and when they do such things, they are stealing businesses from competitors. Most people refer to them as the king of the American industries during the 19th century. Some viewed them as greedy, unprincipled and corrupt.
Andrew Carnegie was born in Dunfermline, Scotland on November 1835. Growing up poor, Carnegie started working 12 hour shifts at the age of 12 for a $1.20. As he started getting older he taught himself new things which would eventually lead him to making $1,500 a year at the age of 17. In the early 1870s Carnegie was so successful in the steel industry that he sold his Carnegie Steel Company to J.P. Morgan for $480 million making him the richest man in the world. Before dying Andrew Carnegie dedicated himself to helping charities and donating approximately $350 million to education. All of this makes Andrew Carnegie look like a hero, but he was not. Carnegie was no hero because he didn’t treat his workers fair enough, he was selfish, and he
During the 19th century, industrialization impacted the United States in many way. Industrialists, like John D. Rockefeller, owned or were involved in management of an industry. At the time, these agents were considered a “Robber Baron,” while others were considered a “Captain of Industry.” However, many were considered good because they were philanthropists.
Rockefeller. He was the major capitalist of the oil industry. John D. Rockefeller began to earn his money fairly quickly. He built his first oil refinery near Cleveland in 1863 and by 1870 he already created his own oil business. Standard Oil Company will grow rapidly and will viciously begin to take out the other competitors one by one. John d. Rockefeller was the exact definition of a “Robber Baron”. He played dirty by buying out companies and then using those to buy out other competitors. He raised prices in areas with no competition to destroy other companies, also he would spy on other companies to better understand what kind of competition he had. These factors are what make John D. Rockefeller a “Robber Baron” in
During the late 19th century, there was a growth in industrialization. This brought new opportunities for the poor and the rich. For example, Carnegie helped build the steel industry in Pittsburgh Pennsylvania, which made him one of the richest man in the world. As Carnegie gained more wealth, he questioned who money should be given to. Carnegie was both a Robber Baron and a Captain of Industry.
“Who is the richest American ever?”When asked this question, the name that most often come to mind is Bill Gates but the actual American to become the richest, most famous, influential and the most two-sided businessman at the time: Andrew Carnegie, hero or villain?. In order to answer that question we have to know what the words "hero” and "villain” actually mean. According to Webster Dictionary, a hero is a “person, especially a man admired for courage, nobility, or exploits, especially in war,” and "the central figure in any important event or period, honored for outstanding qualities.” or basically a role model who does good for a cause and has good morals while a villain is described as "someone or something regarded as the cause of
Was Cornelius Vanderbilt a Robber Baron or Captain of Industry? A cruel businessman or an industrious leader? Henry J. Raymond believed that Vanderbilt was “a monopolist that crushed other competitors”(T.J Stiles). While he is also deemed one of America’s leading businessmen, and is also credited for helping shape the United States. His fortunes were made unfairly in some cases but his million dollar contribution to the Navy was very generous. Bill Gates was a wealthy man who might have been greedy and only in for the money. He was also a generous man who employed a lot of people and donated $40 million.
In the past, there have been many influential economic figures in the industrial business industry. Andrew Carnegie is one of the most famous of these figures but not just in a business scheme, but also in an economic and national scheme. Andrew Carnegie is a business man that caused a major controversial issue to arise; the topic of being labeled a Robber Baron or a Captain of Industry by the public. A Robber Baron is someone who has become wealthy through heartless and unethical business actions that will only benefit the individual. On the other hand, a Captain of Industry is a business leader who has become rich by accomplishing activities that will, overall, benefit the people of the community such as expanding a market or providing more jobs. There have been many debates on which one
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. Document 7 lists multiple generous donations, adding up to be $506,816,041.18 in total- an absolute fortune. These acts of generosity counteract historians’ accusations of businessmen and proves that their statement is only true to some
Mr. George Pullman was considered one of the worst robber barons of the 19th century. He manipulated his workers to do everything for him and strived for success.
The first man is Cornelius Vanderbilt who was a successful business man his entire life. At age 16, he bought a ferry boat with a loan and it quickly turned into a fleet of ships transporting goods and people across the country. He eventually built the largest shipping empire in the world and was nicknamed “the commodore”. Right before the civil war, he sold all of his ships and invested everything in the railroad because he believed the railways were the future. At the end of the civil war in 1865, Vanderbilt was the richest man in America with a net worth of $68 million. However, life was not perfect for Vanderbilt as his son who he wanted to take control of the country was killed in
Henry George’s was a critic of big business and since there we social problems he blames it on a few monopolists to grow wealthy as a result of rising land values. He proposed a single tax on land to replace taxes which would be returned to in addition to the people. If they propose this tax it would destroy monopolies, distribute wealth, and it would eliminate poverty. Robber barons are the reason why people were being driven into poverty (DOC 1). The result of this was how the Northern capitalists led the South away from agriculture and economic dependence, and how they used their wealth to further grow the American industry. The captains of industry believed that the poor people were inferior to the rich people. The rich were superior because they had “wisdom, experience, and the ability to administer”. The duty of a rich person was to help out a poor person which was what was said in the Gospel of Wealth. The Gospel of Wealth is about how the rich person's responsibility is philanthropy. Carnegie believes in charity work so he would donate to libraries, and universities and schools and etc. 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
A “robber baron” is defined as one who uses immoral methods to get rich. John D. Rockefeller, king of oil and the owner of the Standard Oil Company, was known for these unscrupulous tactics. Rockefeller’s peculiar ideas of the “law of nature” in accordance with his “primitive savagery” allowed this stealthy businessman to manipulate his way to the top. Although Rockefeller’s oil monopoly attributed to the wealth of the American economy, he destroyed the morality of modest men to accomplish ultimate power and prestige making him one of the wealthiest industrialists during his time.
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.
These men were captains of industry because they all donated money. One way Rockefeller bestowed a portion of his money away was by giving “millions of dollars to a variety of causes.” In the reading it quotes, “In 1919 Rockefeller donated $50,000,000 to the Board to raise academic Salaries.” This quote demonstrates that John D. Rockefeller was not an awful guy and cared for other people. In addition, it later says in the reading it that he also donated money for religion and medical purposes. Another piece of evidence that shows these men are Captain of Industry was in the Eastman reading when it states, “He supported dental clinics for children who could not afford treatment.” Instead of keeping the money for himself to produce extra money, he decided to donate it to the unfortunate who couldn’t afford to receive treatments from dental clinics.