How Did Robber Barons Affect The Economy

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Money makes the world go around so that people could either become rich or poor. The whole issue with businesses came up in the 18th-19th century and was created by two factions in US history, the Robber Barons and the Captains of Industry. These two are what made the way America’s economy it is today. The Robber Barons and the Captains of industry were both very similar but completely different with how they operated in the economic world. Robber Barons made wealth in a variety of ways but still maintained the sense of thieves from the way they attained their wealth and treated their people hence forth their name. The Robber Barons were considered a unlikable form of business because of the effect they had a negative effect on the…show more content…
Another Businessman who was partial to Robber Barons may have been John D. Rockefeller for his method of attaining a large share of the oil industry many believed that Rockefeller gained his power in the Oil Industry by somehow building a monopoly. However through careful of study Rockefeller simply used horizontal consolidation to bring different firms with the same business together. It could not be called a monopoly because they did not merge into one company. John D. Rockefeller did establish trusts or Board of Trusties, which controlled the entire process of making and controlling a product which was extremely similar to that of a monopoly. Because of Rockefeller's Horizontal Consolidation, he did not violate any laws. When he was also near the end of his life Rockefeller also like Carnegie engaged in philanthropy and gave back to the community. On more than one occasion businessmen have resorted to violence of their own by hiring the Pinker-tons to handle any upstart or union. “Those who have been ordered to carry out a task are not the ones stained by it, but those who have given the orders are.” Robber Barons were also excessively competitive and would attempt to either take control of a competitor or drive the business into the ground together. When they perform this, they start to develop monopolies to take total control of a product, which is not legal. Their competitive streak made them more prone to pollution and to the draining the
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