Big Business and The Robber Barons Essay - 1473 Words

The decades after the Civil War rapidly changed the face of the United States. The rapid industrialization of the nation changed us from generally agrarian to the top industrial power in the world. Business tycoons thrived during this time, forging great business empires with the use of trusts and pools. Farmers moved to the cities and into the factories, living off wages and changing the face of the workforce. This rapid industrialization created wide gaps in society, and the government, which had originally taken a hands off approach to business, was forced to step in. Many individuals took advantage of the rapid industrialization and high influx of cheap labor in the form of immigrants. Among these entrepreneurs were John D.†¦show more content†¦Cornelius Vanderbilt was a steamship and railroad tycoon. He made millions in the steamship business before turning to the promising railroad industry. He began to take capital from the steamship business to buy railroads, starting with the New York and Harlem Railroad in 1862. Vanderbilt eventually amassed over $100 million from his railroad empire and his wealth and power was virtually untouchable. He was a ruthless businessman, once saying to a competitor â€Å"You have undertaken to cheat me. I wont sue you, for the law is too slow. I will ruin you.† His New York Central rail line operated from New York to Chicago along more than 4,500 miles of track at the time of his death. George Pullman was the developer of the Pullman Palace Car, creating his own factory town of Pullman, Chicago. With the massive success of the railroads, Pullman made a fortune producing his luxury sleeping cars. He is well known for suppressing his striking workers in Pullman. When a depression struck the country, he slashed wages the wages of his workers while keeping the wages of his associates and the price of living the same. This created uproar and led to a strike amongst his workers, eventually backed by Eugene Debs’ American Railway Union. The strike was violently put down, showing that labor unions had little power to negotiate. These five industrialists and entrepreneurs took advantage of the industrializing America and becameShow MoreRelatedThe Myth Of Robber Barons By Burton W. Folsom1141 Words   |  5 PagesMyth of the Robber Barons by Burton W. Folsom The Myth of Robber Barons is a short, but excellent book that talks about the entrepreneurs of early America. It argues against the misconception that the successful businessmen of the 19th century, often called the â€Å"robber barons†, amassed a big fortune by robbing the general public, whereas, they became wealthy because they offered good quality products and services at low prices which in turn attracted so many Americans to do business with them. Read More Robber Barons and the Captains of Industry Made Americas Economy of Today862 Words   |  4 Pageshistory, 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 he nce forth their name. The Robber Barons were considered a unlikable form of business becauseRead MoreThe Big Business And Economy1512 Words   |  7 PagesThe big businesses that dominated the United States during the nineteenth century should not be considered Robber Barons. Although some people’s livelihoods were destroyed, they were not setting out just to ruin people’s lives. They wanted to industrialize, make money, and make the United States’ economy more stable. If they continued to operate on a small scale, then the money would continue to be scarce for everyone as it had been in the past. They had to do something different in order to seeRead MoreRobber Barons Or Industrial Giants. In The Late19Th And1455 Words   |  6 PagesRobber Barons or Industrial Giants In the late19th and early 20th centuries, a severely divided, 100-year old nation called the United States of America, underwent major transformations that would forever change America and the world. The cause of the changes was America’s Industrial Era, which began roughly eleven years after the Civil War ended. The industrialization of America could not have started and continued without big money, and the leaders and financiers of the movement were capitalistsRead MoreMartin Dressler: The Tale of an American Dreamer, by Steven Millhauser924 Words   |  4 Pages Progress was in the air and ideas were sprouting. The citizen of Martin’s time desired the next big thing. The Robber Baron of this time period has both similarities and differences with Martin. Martin strived to be successful, but did it the right way. Martin’s desire for the latest technological advancements was also prominent. Millhauser accurately represents the hustle and bustle of the business w orld in this time period. Martin lived in a period of economic prosperity. Businesses wereRead MoreThe Myth Of Robber Barons1332 Words   |  6 PagesThe 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 â€Å"Robber Barons,† but Folsom argues that these entrepreneurs succeeded by producing quality product andRead MoreWas J.P. Morgan a Captain of Industry or a Robber Baron?669 Words   |  3 PagesMorgan a Captain of Industry or a Robber Baron? In the early nineteenth century the USA was very corrupt. It was a time were monopolistic businesses thrived, and small ones failed. In this time was when J.P. Morgan became the man controlling the most money in the world and ended up owning at his peak, forty companies. In the early nineteenth century J.P Morgan was both a Captain of industry and a Robber Baron. J.P. Morgan was considered by many a robber baron, and there are many reasons for thisRead More The Robber Barons Essay733 Words   |  3 PagesThe Robber Barons When the names Carnagie, Rockefeller, and Pullman come to mind, most of us automatically think of what we saw or read in our history books: These men were kind and generous and through hard work and perseverance, any one of you could become a success story like them, right? Wrong. I am sick of these people being remembered for the two or three good deeds they have done. Publicity and media have exaggerated the generosity of these men, the government has spoiled these namesRead MoreApush- Monopolies968 Words   |  4 Pageseconomic and political aspects of our nation. These corporations dominated American business and defined the American culture. The Gilded Age, a term coined by Mark Twain, was used to describe the conditions within the United States during this time. The nation was â€Å"lined with gold†, but had many struggles and obstacles that spread through the social, political, and economic aspects of the United States. These big businesses initiated many transfo rmations within the United States and set the foundationRead More19th Century s Famous Industrial Men : Robber Barons Or Captains Of Industry?1833 Words   |  8 PagesNineteenth century’s famous industrial men: Robber Barons or Captains of Industry? By: Justine Wetten Advanced U.S. History Mr. Unis January 5th, 2015 Discuss whether the industrial leaders of the late nineteenth century are more accurately described as â€Å"captains of industry† or â€Å"robber barons†? A. Plan of Investigation This investigation will assess whether the industrial leaders, such as, Andrew Carnegie, John Pierpont Morgan