Robber Barons Dbq Analysis

A Review of The Myth of the Robber Barons a book by Burton Folsom JR.

During the post Civil War period many capitalists took over and ramped up industry. There were also individuals who took industries and monopolized them. Many historians who look back at these capitalists who shaped the post Civil War industry argue about whether they should be viewed as captains of industry who developed large industry, or as robber barons who used industry and monopolies to achieve wealth and take advantage of the working class. This essay will show why they were captains of industry.

After the end of the Civil War, industrialization and urbanization blossomed and changed the nation. Instead of presidential power, men were aiming to be industrial tycoons for their wealth and power. To the people, these capitalists were regarded as either admirable “captains of industry” or corrupt “robber barons”. Even though to some people they may seem like “captains of industry”, but they were actually corrupt “robber barons” for several reasons regarding corruption, employee issues, and matters of the social classes.

In a book published in 1991 by Burt Folsom, The Myth of the Robber Barons is essentially a book about two theories competing against one another, which is the political versus the market entrepreneurs. The book adamantly persuades the reader into believing market entrepreneurship has provided Americans with greater results versus political entrepreneurs featuring from real life scenarios to back up Mr. Folsom claims. He pointed out several market entrepreneurs in his book such as J.D. Rockefeller, Cornelius Vanderbilt, James Hill and Charles Schwab as ones who helped changed the economic climate for Americans by providing superior and lower-cost products and/or services than its competitors. Mr. Folsom continued to shine light on several political

Near the last decades of the 19th century, America’s industrial economy skyrocketed. As these industrial leaders like Carnegie and Rockefeller not only lead the expansion through their respective industries, but revolutionized businesses while crushing free-market competition in the process. As

The movement in organized labor from 1875 to 1900 to improve the position of workers was unsuccessful because of the inherent weaknesses of unions and the failures of their strikes, the negative public attitudes toward organized labor, widespread government corruption, and the tendency of government to side with big business. After the Civil there was a push to industrialize quickly, and the rushed industrialization was at the expense of the workers as it led to bigger profits for big business and atrocious working conditions for them; conditions that included long working hours, extremely low wages, and the exploitation of children and immigrants.

* Capitalism allows people to choose what job they want to do. It gives people the right to spend their money where they want. Harmful: the gov't control is very limited; it allows people to dominate the industry. The wealthy get wealthier and the poor get poorer.

The economy grew more than 400% between 1860 and 1900. There was many things that helped the economy grow. We had technological advances, an expanding population, and transportation improved. John Rockefeller, Andrew Carnegie, and J.P. Morgan were considered “titans of industry”. Together they build monopolies and revolutionized business practices.

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.

From 1865 to 1900, a surge in industry and business began to come into effect. Railroads, oil, steel, and various inventions enabled the rise of these businesses. As time went on, the leaders of the businesses would become more eager to achieve wealth. Some historians have described these people as ‘robber barons’ or people who use extreme methods to control and maintain their wealth and power. Others would chastise that belief, declaring that it is an unjust conclusion to draw. Despite the oppositions fervent belief, the undeniable evidence supports the belief that many of the businessmen in the late 19th century were ‘robber barons’. These men had a blatant disregard for human lives and an unquenchable urge to assume control over citizens’ lives that instilled corruption and greed in them.

* The Great RR Strike of 1877 shut down railroads from WV to CA & resulted in hundreds of deaths

What is a robber baron? Webster’s New Dictionary defines it as an American capitalist of the late 19th century who became wealthy through exploitation (As of natural resources, governmental influence, or low wage scales) or a person who satisfies himself by depriving another. In America we had a lot of these kind of people. For this report I am going to tell you about the ones that I found most interesting to me. I would first like to tell you about Cornelius Vanderbilt.

During 1870-1899 the U.S was rapidly growing in the development of industries. At the time technology was advancing while many companies/corporations were establishing within the region. According to Document A from the Historical Statistics of the United States indexed prices bar graph, in the beginning of 1870 the U.S was stable, while Americans in the meantime we're creating unions & organizations. The decrease began after 1870, with many new corporations, and factories opening up the indexed prices spiked down. The most dramatic downfall was the fuel and lighting prices during this era, with the high of 150 in indexed value at the start of 1870, it decreased down to 50 indexed value in 1899 (29 years). This result led to high cost living rates, and for immigrants to struggle living or

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.

Businesses, laborers, and farmers faced major challenges between 1877 and 1920. This was a time period that included both the Gilded Age and World War 1, and the challenges that these three parts of society faced were very different between each group and throughout each period. Businesses had to deal with things called “trusts” with other businesses. Many businesses desired to hold the monopoly of an entire industry, and competition was intense and cutthroat. Laborers, of course, faced the challenges of not having the previously mentioned working conditions, as well as pay cuts and unemployment during the depressions in the 1870s and the 1890s. Farmers had to deal with major drops in the prices for their crops due to the second Industrial Revolution and the development of new technology, as well as the already-difficult farming of the West. Many southern farmers were sharecroppers, as well, and as the prices for their goods fell, so did their standard of living.