Robber Barons In The Gilded Age

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

There were many conflicting views during the Gilded Age. Some viewed those at the top of the socio-economic ladder as robber-barons due to the vast amount of wealth that never seemed to extend to the workers in terms of salary or safety. However, some called them captains of industries, those who bettered the economy and the lives of workers. These people had an enormous positive impact on the country’s businesses and philanthropy on American economy and society. They transformed America into the most powerful industrial nation, leading the country’s charge by building powerful industries.

In contrast, writers who approve of the progress of industrialization in America will pay homage to the business tycoons, and refer to them as “captains of industry” or industrial giants. They are quick to point out that “while the [industrialization leaders’] practices weren 't viewed as ethical, most of the 19th century … barons didn 't commit any illegal acts”1. To elaborate on the previous statement, it is important for history readers to remember that this was a time in America when the government was trying to rebuild a nation that was suffering the devastating effects of the Civil War. Therefore, when the industrial movement began, it brought new problems on a large scale that previously did not exist. Consequently, government laws and regulations regarding business practices did not exist either. As an example, Andrew Carnegie, “who led the expansion of the steel industry in the late 19th century”1 was able

In document E, “The Robber Barons of Today” cartoon shows the robber barons being compared to a monarchy. This cartoon shows how wealthy entrepreneurs take the poor workers for granted; that the workers basically have to give nearly everything they have to the “kings.” The workers were also treated poorly on the job. In document F, a weaver told of his times working in England for seventeen years, and that the conditions in England are far better than the current conditions in America. He states that in England that the factories were advantageous to the workers and that their salaries were unbelievably well even though their jobs are fairly easy thanks to machines. But, the same cannot be said for

Andrew Carnegie’s “The Gospel of Wealth” and Samuel Gompers’ letter to Judge Peter Grosscup offer different opinions concerning the course that people of different economic standings should take in regards to power and social stature. However, both works mean to steer society in what seems to be opposite directions. Carnegie focuses more on how the wealthy in the society should take the seemingly philanthropic approach whereas Gompers’ offers a more organizational and structured point of view.

Early industrialist were some of the richest people on earth. Their business created countless jobs and spurred growth in a country devastated by civil war. America was growing at an unprecedented rate, but at what cost.

Andrew Carnegie, John D. Rockefeller, Cornelius Vanderbilt, and J.P. Morgan all have something in common they’re well known for being wealthy businessmen in the late 19th century. Robber Barons and Captain of Industry are mostly known from the Gilded Age. Mark Twain called the late 19th century the “Gilded Age” because he was referring to this period being glittering on the surface but corrupt underneath (Overview of the Gilded Age, Digital History). Most of the businessmen during this day in time just wanted to help themselves and their businesses, which you could compare to today. However, these historical figures established a foundation for industrial advances, business development and technological advances in America today.

    According to the Modern American History textbook, the Gilded Age is a term coined by Mark Twain. This term suggested that there was a glittering layer of prosperity that covered the poverty and corruption that existed in much of society. This term also helped covered the wide

The gilded age took place in the late nineteenth century, when there was a rise in industrialization. During this time industrialists came to be an important part of society. Depending on who they were and how they used their money, they were either labeled a captain of industry or a robber baron. Captains of industry were seen as the better people as they used their money to positively contribute to society, for example by donating to charities. Robber barons were seen as negative people who used their money only

The Gilded Age was the period of transformation in the economy, technology, government, and social customs of America. Robber Barons were businessmen who used unfair tactics to help the union. The people who had jobs were struggling to the fact that they have low pay and working condition is bad. So many people were struggling because of these low cut pays. Also, little kids had to work but did not get paid, these kids should not have been working since they let them work they at least should have paid them for their hard work and dedication. Robber Barons used unfair tactics by giving poor working condition, low paychecks, and child labor.

The Gilded Age was a nickname given by Mark Twain for the 19th century. He called it that because it means that particular time seems good on the outside but bad on the inside. It was a time of greed and power. It also represents crime and shadowy businesses. This is just the beginning of the Gilded Age.

Who wants to be a millionaire? The answers simple, apparently all of the bright men within the nineteenth century during the attractive booming economy. Whereas, the Gilded Age struck the people after the Civil War and the revolution of the railways brought with it, a spur of industrialization. The markets for manufactured goods were stimulated, more commerce was beckoned with foreign and domestic investors, and even the process of raw materials going to the factories was sped. Although sounding like a luxurious period for all, the main beneficiaries became know as the robber barons as they manipulated the public and business to their needs, established the visible social classes, and used laborers with little discretion for age.

It is a general consensus that from an economic perspective that businesses are expected to benefit shareholders and contribute to society through value maximization. Milton Freidman, however, takes this a step further by asserting that this is the basis of moral behavior for businesses and that they act immorally when they diminish profit by trying to assume other “social responsibilities” instead of letting greater population do that on their own. Although this philosophy would ideally maximize both profit and the amount of money that people could contribute to the social cause of their choice, it does not work as efficiently in a society where there a large portion of society is not in a place to focus on social issues. When this situation is viewed from the perspective of Maslow’s hierarchy of needs, it is evident that until substantial gains are made in the quality of life in the general population, Freidman’s position will not result in social responsibility. Andrew Carnegie unknowingly takes the hierarchy of needs into account when he counters Freidman’s position in the Gospel of Wealth. In his work, Carnegie argues that the proper way to maximize the efficiency of social causes is for elite businessmen make the choices that many others are

Industrialists at the time did what they could to become successful. Each one knowing that how they become successful may not be approved by everyone but at the time, they saw the need in the United States and created their industry. All of the industries created were in some relation to the railroad system, which had become America’s first big business. The industries created included Carnegie Steel Company, Standard Oil Company, and what had become of Carnegie Steel Company, United States Steel. These industries were all created and were continued through processes such as Vertical and Horizontal integration, the trust, and “a community of interest.”

At the beginning of the Industrial Revolution, the ‘Captains of Industry’ or the ‘Robber Barons’ like Andrew Carnegie and John D. Rockefeller supported the ‘Super Economy’ as influential tycoons in industry and politics. Both men were superpowers and had heavy influence on who was