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In this subchapter Burton writes about how Vanderbilt got his start and became a major player in the steamship industry. It shows that even in the infancy of Vanderbilt's career his practice of embracing competition and making better products for lower prices Vanderbilt was able to beat out the government subsidize companies. Burton starts off by talking about Robert Fulton, a man who ran a government franchise steamship company. Fulton's company was simply Monopoly enforced by the state. One of his competitors Thomas Givens hired Cornelius Vanderbilt the challenge Phil Fulton by charging less than the Monopoly rates.…
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During this “Gilded Age” business men have been creating large business organizations known as trusts, this ingenuity of these entrepreneurs has been earning them the title “Captains of Industry” yet their ruthlessness in the building of their industries and wealth at the expense of their competitors has been earning some of these men the title of “Robber Barons”. I personally believe that these business men have negatively affected the people around them, making them titled as “Robber Barons”. I chose to talk about documents A, D, & E because they show /describe the “Robber Barons” the best.…
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During the latter part of the nineteenth century, industries began to bloom across the United States. Local businesses and merchants gave way to larger corporations and industries. The head of these industries, such as the names of Rockefeller, Carnegie, and J.P. Morgan, were looked upon as robber barons by some, industrial innovators by others. A baron is "one having great wealth, power, and influence in a specified sphere of activity: an oil baron." Therefore the robber barons that these men were looked upon as were "one of the American industrial or financial magnates of the late 19th century who became wealthy by unethical means, such as questionable stock-market operations…
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A “robber baron” was someone who employed any means necessary to enrich themselves at the expense of their competitors. Two big Businessman/ industrialists during the 1800’s-1900’s were John D. Rockefeller and Andrew Carnegie. Each businessman contributed something during their lifetime that made people question whether or not they were Robber Barron’s or a hero of Industry. Did each of these businessmen fall into that category or was he one of the “captains of industry”, whose shrewd and innovative leadership brought order out of industrial chaos and generated great fortunes that enriched the public welfare through the workings of various philanthropic agencies that these leaders established or were they really “Robber Barron’s?”…
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Cornelius Vanderbilt was one of America’s leading Business tycoons in the early 18th century. Many believed his genius and success as a businessman was contributed to his ability to seize upon opportunities that appeared unexpectedly. Some even thought that because Vanderbilt was so successful, he had planned everything in advance. Born poor , Vanderbilt had used his obvious aptitude for business, and luck to amass his empire, involving himself in the steam engine, both on land and sea. He tried and succeeded in connecting the railway to create a very large monopoly over the railroad system during his lifetime. Being involved in transportation, this was very important because transportation was the most important and lucrative business…
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The three men, John D. Rockefeller, Andrew Carnegie, and J.P. Morgan, were seen as robber barons BUT they were also seen as industrial statesmen. Robber baron was a term given to the rich who would pretty much do anything for money whether that meant the jeopardy of workers’ lives and crooked business practices. John D. Rockefeller started a standard oil company and was the first American billionaire. John R. was considered a robber baron mainly because he used his insight of business to ruthlessly force other oil and petroleum companies out of business, and whom managed to hide it all from the public. Rockefeller also, asked the railroad for secret rebates, thought only about money, and decisively brought the strongest men to his sides in order to completely envelop other oil and petroleum companies while at the same time taking no ones’ feelings into account. Andrew Carnegie was an industrialist and a philanthropist. Andrew started a steel company that revolutionized steel production. The way Andrew obtained the label of being a robber baron was by the way he ran his company. Although he made tons of money he, paid low wages, his workers suffered horrible and very unsafe conditions, and he took advantage of the government. J.P. Morgan, financier, art collector, and philanthropist. He was criticized for creating monopolies by making it difficult for any business to compete against his. Morgan dominated two industries in particular—he helped consolidate railroad industry in the East and formed the United States Steel Corporation in 1901. With J.P. and how he was considered to be a robber baron was through his tactics. One of the main reasons people considered John Pierpont Morgan as a robber baron was because of his process known as “Morganization.” In this process, he would take over troubled businesses and reorganize them in order to return them to profitability.…
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These 3 men are robber barons because they all treated their men with disrespect. They made them work in harsh conditions, with low pay, and super long hours. They also discouraged unions between the workers and even tried to stop them.This is showing disrespect by them not letting the workers have a break and time to themselves.What they don't realize is no matter how much they get nagged they aren't going to work to their greatest potential because their worn out.Another thing that's cruel is giving them low pay after working all these hours,they may be doing it to save their own money but out of the millions they have they should be giving them a decent amount of money.With them working their workers so hard, it will make them quit then…
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Vanderbilt used these railroads to make money by transporting peoples goods that they needed to get in some places. They paid him to transport their things to like another state. He had a lot of competition for the railroads and one of his main competitors was John D. Rockefeller. They both had a lot to transport, but for a while Vanderbilt had the lead, then later on Rockefeller took it from him and kept it for a long time. Not only did he own the railroads he built many miles of railways.…
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Andrew Carnegie was a Scottish-American who lived during the 19th century. Carnegie was an industrialist who played a pivotal role in the expansion of the American steel industry. Although he sometimes used methods that hurt the people to make profit , Carnegie contributed to America's growth as a nation economically because he connected different parts of America by building bridges and railroads and he helped cities to grow by building modern structures such as skyscrapers. Carnegie was born in Dunfermline, Scotland in the attic of a small house on November 25th, 1835.1 He was named after his grandfather, Andrew Carnegie, who was a popular man in the district, being the head of the lively ones of his day and the chief of their club, “Patiemuir College.”2 He grew up having little formal education, but his family held books and learning at a high level of importance.3 In 1848, when he was 13 years old, Carnegie and his family moved to the United States and made a home in Allegheny, Pennsylvania. He worked in a factory and later worked his way through the telegraphing business. Carnegie’s ability to get his foot in the door of the railroad business enabled him to learn the tricks of the trade and also about business altogether. 4 With the experiences he acquired, he was well on his way to becoming one of the most successful business men in America of his time. Carnegie’s life was one full of many events, ups and downs, gains and losses, but it certainly can be said that it was a life well lived. 1Andrew Carnegie, Louise W. Carnegie, and John C. Van Dyke, Autobiography of Andrew Carnegie (Boston: Houghton Mifflin, 1920), 2. 2 Ibid.…
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Andrew Carnegie, the richest man in the world, was born in Scotland on November 25, 1835. Starting off with only helping start an American steel company at such a young age, soon became one of the richest young men at his time. This is only the beginning of his wealth and one of the many…
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Robber Barons are tycoons that that monopolized a market through questionable practices and they influence politics for their own gain. I believe we still have Robber Baron’s hands in the government today. The new of Robber Barons today are bankers and stock brokers have convinced the government to bail them out of debt in 2008 because they made bad loans and brought the economy down.…
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Also one of the most important drivers of American economic expansion was the dominating presence of Robber barons. Such men as Andrew Carnegie, John D. Rockefeller and J. P. Morgan were able to monopolize large industries which consisted of a relatively small amount of members, which resulted in the unequal distribution of wealth between those of lower and higher economic classes. Americans generally had differing opinions on this current method. While some viewed it as unethical, others, namely those of the…
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Hi, I’m Commodore Cornelius Vanderbilt, and I was a self-made entrepreneur, , a great railroad baron, and the wealthiest man in the United States throughout the 19th century. Earlier in my business career, I was probably the greatest shipping tycoon in the United States. My estate is worth 100 million dollars. I was one of the first Americans to learn to construct and operate steamships. When I was 16, I successfully built my own ferry and freight business. I also partnered with Thomas Gibbons to operate a dominant ferry service, in which I made a fortune. Midway through the Civil War, I loaned my largest and fastest ship to the Union Navy to chase down Confederate raiders. Once victory was won in the 1860s, I became aware that the big growth in the future for the transportation industry was not by way of water but by way of rail, and I switched my energies to the railroad business and soon controlled a network of lines that ran from NY to Chicago. I bought existing railroads including the Long Island Railroad, the New York and Harlem Railroad, and the Hudson River Railroad. I focused on improving service and on upgrading capital equipment while maintaining low fares. I gained maximum profits by gaining maximum control of the railroad market. As I once said, "I have been insane on the subject of moneymaking all my life." I marked the beginning of a new class of businessmen, and I strongly believe that our nation needs to continue to compete in the technology race with other nations, as everyone knows how much the steamboat and railroad have helped transform our…
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Despite the fact that many had viewed John D. Rockefeller and Andrew Carnegie as "Tycoons of Industry" or "Robber Barons", these two industrial giants begged to differ. "Robber Baron" was a name given to industrial giants in the late 19th century who were believed to have become wealthy through unethical means, such as questionable stock-market operations. Rockefeller once stated "...and only through such successive steps and by a great aggregation of capital is America today enabled to utilize the bounty which its land pours forth, and to furnish the world with light." He believed it was necessary during the time of the great depression for him to increase his capital. In doing so he consulted with other companies within the business to bring out some order. This was Rockefeller's view of the situation, but many others of his time, or people of the working class did not perceive the situation as he did. They believed Rockefeller and aggregation of capital worked together to cheat them out of their money in a time of crisis.…
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People have encountered and are still dealing with Monopolized companies on a daily basis. From using electricity up to using additives on food preparation. Monopolies dominate the market by being the sole producer of their product, having control over price and lack of competition.…
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