Analysis Of The Term Captains Of Industry

Robber barons, famously known for their ruthless means of acquiring wealth back in the late nineteenth century. They were awful. They were complete menaces to society and only ever created wealth for themselves. Or, at least that 's what is commonly taught in high school American history classes, but author Burton Folsom Jr. offers an unique alternative perspective in his book, The Myth of the Robber Barons. He provides a closer look at the results achieved by these infamous robber barons to give insight into what actually happened in the wake of these entrepreneurs’ conducted business. Folsom uses seven chapters on separate industries ran by robber barons to show, at least from an overall economic view, The United States experienced a gross net benefit by the existence of robber barons.

Although some of these criticisms are well founded, men like Andrew Carnegie and John D. Rockefeller were, in fact, Captains of Industry because they employed millions and created new ways of doing business. Before all these industrialists can along, America was just another country that had little significance to the world. If it was not for them, we as a nation would not be where we are today. The industrialists prospered mainly due to their wit, and the many innovations that they brought to their various fields of business. They created monopolies because they were the most effective forms of enterprise, and there were no laws that prohibited or restricted their use. As John D. Rockefeller himself said, "I believe in the spirit of combination and cooperation when properly conducted….It helps to reduce waste, and waste is a dissipation of power."(Danzer 424) Critics say that these men ruthlessly took over their fields of business, and "did not play fair". What's wrong with striving for success? What's wrong with being efficient? What's wrong with making a product that no one can equal? What's wrong with besting your competitors? Nothing.

Captains of industry were defined as the business leaders whose means of amassing a personal fortune contributed positively to the country or society in some way. Andrew Carnegie and John D. Rockefeller were considered to be captains of industry because with their profits from either their steel company or standard oil company, they give back to the society instead of themselves. They believed in the idea that people give in to you, in which you must give out as well. They established many charitable foundations that allowed them to become well known philanthropist and made them distinguishable from the rubber barons.

Although Carnegie liked to be the tough businessman, he was not a monopolist and did not like monopolists. On the other side of the pool, Rockefeller was dominating the oil industry with no mercy. He believed in primitive savagery in the world of business, where only the fittest survived. He helped coin the term ‘ruin or rule.’ Rockefeller had a great belief in ruthless business, yet Carnegie did not. But in the end both had the most successful companies in their industries.

Henry Ford was the godfather of the automobile industry in the early 1900’s. The development of his River Rouge plant was considered a “industrial Cathedral.” Hundreds waited month after month in front of the employment building hoping to be hired. To foreign immigrants it meant hope and a successful future. The River Rouge plant

The Myth of Robber Barons discusses some of the major entrepreneurs in of the United States from 1850 to 1910. Burton Folsom also discusses these entrepreneur’s key role in their fields and the whole economy of the United States. The entrepreneurs discussed are Commodore Vanderbilt, James J. Hill, The Scranton’s Group, Charles Schwab, John D. Rockefeller, and Andrew Mellon. We know these men as “Robber Barons,” but Folsom argues that these entrepreneurs succeeded by producing quality product and service at a competitive price. He compares so called “Robber Barons” to the political entrepreneurs who rely heavily on government subsidy and make no improvement.

The Gilded Age was a time in American history when some of the most famous industrialists rose to power. These industrialists made good decisions and bad decisions which reflected them as Captains of Industry or Robber Barons. A Captain of Industry is used to describe someone who contributes positively to society. Robber Barons are businessmen who use unethical or questionable ways to gain power/wealth. Both terms were expressed during this time period by businessmen. The great industrialists of the Gilded Age show traits of being both Captains of Industry and Robber Barons.

Wealthy industrialists and financiers such as John D. Rockefeller, founder of the Standard Oil Company; Andrew Carnegie, the self-made steel tycoon and philanthropist; Cornelius Vanderbilt, known for developing the inland water trade and rapidly growing railroad industry after building the New York Central Railroad; and Jay Gould, a developer of the railroads, were labeled as “robber barons,” meaning an American capitalist who became

Industrialists at the turn of the 20th century best deserve the title of Captains of Industry because, there have been many industrial achievements in this century. There has been a copious amount of new inventions in this century. Some of these inventions are made for entertainment, but some are made for our own conveniences. Companies have also increased their technology and machines have replaced the work that humans used to have to do, this has decreased human labor and the harshness of work. Thus, this decade deserves the title of Captains of Industry because, we have advanced society and created some places better to work in.

*It was justified to the full extent to characterized the industrial leaders of the late nineteenth century as "robber barons". People high up in business such as Andrew Carnegie and Rockefeller were proven to be robber barons by most working class and middle class Americans. They earned their wealth through questionable ways and through intimidation. They tried to ease their robber baron reputation by donating large amounts of money to various public buildings and causes. However, this attempt failed when many citizens realized that these donations gave society no long term benefits.

Robber Baron is “the name given nineteenth-century industrial and financial tycoons who gained wealth and status by exploiting workers, governmental practices, and the environment.” (Robber Barons) Some of the best-known Robber Barons were Andrew Carnegie, John D. Rockefeller, Charles Crocker. After the late of 1800s to the new century the U.S. was wealthy with the natural resources including ; oil, iron, and coal. Andrew Carnegie, a working-class family, in the age of the 14 he came to the United States with his family. They settled in Allegheny, Pennsylvania, and Carnegie went to work in a factory, earning only $1.20 a week. he learned about the railroad industry and about business in general. Three years later, Carnegie was promoted to

A Robber Baron was a derogatory term used to describe powerful American business owners in the mid 1800’s; they usually took advantage of their power in order to gain wealth. In addition, they looked down upon several members of society, but they were needed due to the control over certain industries such as railroads, oil, steel, etc. They used this industrial power to gain higher political rank, and ultimately they used their wealth to better themselves. In contrast, “The Captains of Industry” was a term used to describe commanding business owners of the mid 1800’s that positively contributed to society by increasing the number of jobs. These “Captains of Industry” were also philanthropists; therefore, most

Throughout American industrialization, large industries were run by some of the richest men in history. These men got the nickname “robber barons” due to their creation of large monopolies by making questionable business and government activities, and by taking advantage of their workers to succeed. But in The Myth of the Robber Barons by Burton W. Folsom, he argues against these claims, and he takes a deeper look into some of America’s richest and most successful men. By specifically looking at Cornelius Vanderbilt, John D. Rockefeller, James J. Hill, the Scranton family and many more, Folsom believed that these so-called robber barons were actually entrepreneurs with a drive to succeed, leading to an improvement in American lives.

The old saying you have to crack a few eggs to make an omelet holds true for the captains of industry or the so-called robber barons. Although the captains of industry drove some people and businesses into the ground; ultimately the captains of industry made the United States and the rest of the world a better place. Granted, many of the captains of industry used questionable business practiced that drove their profits to unprecedented levels. In addition, these captains of industry had many government officials under their thumbs, which only increased their income further. However, these same men founded and donated to colleges and universities, one of these millionaires donated to black colleges, and others created libraries (Zinn 53). In

At the end of the nineteenth century began an era of industrialization that created an economic upturn called the gilded age. Hallmarks of this age were technological advances, banking innovations, and wealth concentrations. Railroad construction, advances in steel production, and electrical innovation drove industrial and economic growth. Emerging from this upheaval were a gaggle of industrial big wigs: John D. Rockefeller, J.P. Morgan, and Andrew Carnegie. These three represented an unholy alliance with government and big business that left smaller