Captains of industry or robber barons answer key

Captains of industry or robber barons answer key

Robber Barons vs Captains of Industry.

Andrew Carnegie: Captain of Industry or Robber Baron?

The industrial revolution between the s and s brought forward a number of views of industrialism driven by leaders, businessman and entrepreneurs at the time known as industrialists. These many industrialists and financiers fall into one of either category; robber barons or captains of industry. Robber barons were seen to be negative forces in the society; ruthless businessmen solely concerned with personal benefit, whereas captains of industry are transformative leaders generating great industrial strength and benefit to the society.

The article explains these two concepts of industrialism and highlights the many differences between robber barons and captains of industry. Robber barons refer to ruthless businessmen, industrialists and leaders who were very much concerned with personal wealth and benefit stopping at nothing to gain great financial benefit and wealth. Robber barons are known to have created financial benefits for themselves at the expense of the society as a whole.

Robber Barons such as Cornelius Vanderbilt, Rockefeller, and Ford were known to exploit workers with below par working conditions, completely controlling natural resources, gaining large benefits through government influences, creating monopolies by wiping out competition, and following labor practices that were seen to be wrong and unfair.

The term captain of industry is used to refer to industrialists viewed as true leaders of the society that created great business opportunities, industrial revolution, and economic development, which were beneficial to the society and economy as a whole.

The aim of such captains of industry is not solely the creation of wealth. Such individuals also aim to improve standards of living, increase economic development, contributing to the industrial revolution through innovation in products and processes, as well as actively pursue the betterment of the society and overall wellbeing.

What is the difference between Robber Barons and Captains of Industry? Robber barons and captains of industry refer to two very distinct types of industrialists and businessmen that have both contributed to the industrial revolution and development.

Robber barons are the lesser appreciated of the two as they were seen to be mostly self-centered, and aim at achieving wealth for themselves at the expense of the society as a whole. Robber Barons were known to exploit workers, with bad working conditions, low wages and created monopolies with low prices, wiping out all healthy competition. Captains of industry, on the other hand, refer to great leaders and philanthropists that benefitted not only themselves, but also the society and people by creating more jobs, opportunities, invention, increasing productivity, etc.

Coming from Engineering cum Human Resource Development background, has over 10 years experience in content developmet and management. Leave a Reply Cancel reply.During the Gilded Age, America developed its mass production, scientific management, and managerial skills. The First Industrial Revolution, which ended in the early-mid s, was punctuated by a slowdown in macroinventions before the Second Industrial Revolution in Though a number of its characteristic events can be traced to earlier innovations in manufacturing, such as the invention of the Bessemer process inthe Second Industrial Revolution is generally dated between and up to the start of World War I.

Advancements in manufacturing and production technology enabled the widespread adoption of preexisting technological systems such as telegraph and railroad networks, gas and water supply, and sewage systems, which had earlier been concentrated to a few select cities. The enormous expansion of rail and telegraph lines after allowed unprecedented movement of people and ideas, which culminated in a new wave of globalization.

In the same period, new systems were introduced, most significantly electrical power and telephones. A synergy between iron and steel, and railroads and coal developed at the beginning of the Second Industrial Revolution.

Railroads allowed cheap transportation of materials and products, which in turn led to cheap rails to build more roads. Railroads also benefited from cheap coal for their steam locomotives.

This synergy led to the laying of 75, miles of track in the United States in the s, the largest amount anywhere in world history. Other major components of this infrastructure were the new methods for manufacturing steel, especially the Bessemer process.

The first billion-dollar corporation was United States Steel, formed by financier J. Morgan inwho purchased and consolidated steel firms built by Andrew Carnegie and others. Diagram of the Bessemer converter : Air blown through holes in the converter bottom creates a violent reaction in the molten pig iron that oxidizes the excess carbon, converting the pig iron to pure iron or steel, depending on the residual carbon.

Increased mechanization of industry and improvements to worker efficiency increased the productivity of factories while undercutting the need for skilled labor. Mechanical innovations such as batch and continuous processing began to become much more prominent in factories. This mechanization made some factories an assemblage of unskilled laborers performing simple and repetitive tasks under the direction of skilled foremen and engineers.

In some cases, the advancement of such mechanization substituted for low-skilled workers altogether. Both the number of unskilled and skilled workers increased, as their wage rates grew. Engineering colleges were established to feed the enormous demand for expertise. Together with rapid growth of small business, a new middle class was quickly growing, especially in northern cities.

The period from to saw the greatest increase in economic growth in such a short period as ever in previous history. Living standards improved significantly as the prices of goods fell dramatically due to the increases in productivity.

This caused unemployment and great upheavals in commerce and industry, with many laborers being displaced by machines and many factories, ships, and other forms of fixed capital becoming obsolete in a very short time span. Crop failures no longer resulted in starvation in areas connected to large markets through transport infrastructure. Bythe work done by steam engines exceeded that done by animal and human power.We use cookies to give you the best experience possible.

The period of invention after the Civil War set the stage for immense industrial growth Cayton Two prominent names in big business were John D. Rockefeller and Andrew Carnegie. There is no doubt that these people left their mark on business and on history.

However, there is some dispute over how these individuals should be portrayed. Some people say that they were robber barons, while others insist that they were captains of industry. Don't use plagiarized sources. A captain of industry is someone who is perceived to have helped the nation through their business skills and their philanthropy. On the other hand, a robber baron was someone who was considered a ruthless businessman.

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In my opinion Rockefeller and Carnegie were captains of industry. John D. Rockefeller formed the Standard Oil Company in One of the first things that he had to deal with was the high cost of transporting the barrels of oil to his refineries in Cleveland, Ohio. He negotiated a deal with a railroad company that lowered his shipping costs.

captains of industry or robber barons answer key

This allowed him to lower the cost of his oil which resulted in more sales www. By doing this Rockefeller could undersell his competitors. Rockefeller wanted to expand his business even more. His method is called horizontal consolidation, which involves the bringing together of many firms in the same business. The law stated that one company could not own the stock of another.I know that that the industrialists of the late 19th century had both positive and negative effects.

captains of industry or robber barons answer key

Do you believe that they were more captains of industry positive or robber barons negative? How so? Please help!! To me, the superiority of capitalism is that it creates wealth faster, and the purpose of this wealth is to raise the standard of living. The US had a continuously rising standard of living for most of its history. Even in the late 19th century, when wealth was frighteningly concentrated at the top, your average person did a little better than his parents.

We used to think of profit as a means to an end, the end being a rising standard of living, a better life for everyone. Today we see profit as the end in itself, meaning we're ready to sacrifice our standard of living so profits can be higher.

This is not good for most people! It means working people must face a steady slow decline in their standard of living so that profits can rise higher and higher. That was not as true during the Gilded Age as it is now! By the early 's Theodore Roosevelt led a Progressive movement which broke up the monopolies. The Robber Barons then turned to financing many hospitals, research centers, and libraries across the U. A large number of these institutions still function today.

Difference Between Robber Barons and Captains of Industry

It depends on one's viewpoint. If you believe that becoming rich and powerful is a good thing regardless of the damage you do to anyone and anything that interferes with that goal, then you'll call them captains of industry. If not, robber barons. They consistently used business methods of questionable legality including outright violence and intimidation and morality to drive competitors out of business,break strikes,and build up monopolies or cartels in their field so as to make themselves obscenely rich.

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Workers' pay and conditions were deliberately kept low so as to further enrich themselves. If they weren't Robber Barons,it wouldn't have been necessary to introduce Federal legislation to put a stop to the worst excesses of their business practices. Answer Save. Smartypants Lv 7. It depends on your perspective, where you're coming from.

Gawain of Lv 7. Robber Barons. Still have questions? Get your answers by asking now.Played times. Print Share Edit Delete. Live Game Live. Finish Editing. This quiz is incomplete! To play this quiz, please finish editing it. Delete Quiz. Question 1. A less expensive and easier way to make steel. It increased production and lowered the price of steel in the US dramatically.

Allowed skyscrapers to be built. Industrial Revolution. The total or complete control of a service, product or industry that prevents competition. The Gospel of Wealth was written by this successful businessman who owned a large steel corporation. These were the men who held very large and extensive corporations within their hands, they even had some control over the governmental processes. Robber Barons, Captains of Industry. Captains of Industry, Robber Barons. Pools, trusts, and monopolies were an effort to reduce.

In this political cartoon, who is in charge of the Senate? In this political cartoon, how do monopolistic trusts like Standard Oil Trust impact competition? Competition is encouraged by monopolistic trusts. What type of business organization is being criticized in this cartoon? According to this cartoon, Standard Oil company and its owner have.If we can't tunnel through the Earth, how do we know what's at its center?

What evidence does Coutu use to support her claim that improvisation requires resilience. A lady introduce her husband's name with saying by which can stop or move train what is that name. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply. Hottest Questions. Previously Viewed. Unanswered Questions. What is a robber baron and captains of industry?

Wiki User They were the riches people who ran banks, businesses, and oil companies. Asked in History of the United States What is a railroad baron? A robber baron of the railroad industry. Rockefeller Was John D Rockefeller a robber baron or a captain of industry?

John D. Rockefeller was cosidered both a robber baron and a captain of industry. Rockefeller Was John D Rockefeller a captain of industry or a robber baron? Rockefeller was considered both a robber baron and a captain of industry. No he was a Robber Baron of Industry. Rockefeller Was J. Rockerfeller a robber baron or a captain of industry?

captains of industry or robber barons answer key

Rockerfeller was considered both a captain of industry and a robber baron. Ford was a captain of industry. He was a captain of industry. He was a Robber Barron and a monopolist.

captains of industry or robber barons answer key

Reguardless of what they actually did, Industrial Leaders were both Robber Barons and Captains of Industry, but just the presentation of their lifestyle could be biased to illustrate them as just one or just the other. Usually, conservative viewpoints show them as Robber Barons and Libral viewpoints show them as Captains of Industry. Asked in History of the United States Why were American industrialists called by robber barons and captains of industry? They were called robber barons and captains of industry because they bought out all companies and basically became monopolies, which made them the only ones to get certain things from.

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Both are basically terms of art-simply speaking, a captain of industry is a good guy, while a robber baron is a bad guy. Vanderbilt was not considered a captain of industry.There was a time in U. The wealth of people like John D. Wealth so vast can often highlight the financial inequality of an era. The title suggested that the thin veneer of wealth for the elite masked broader issues for many in the lower and middle classes.

Much of this growth was courtesy of railroads — which now spanned from coast to coast — as well as factories, steel, and the coal mining industry. Big business boomed, with technology such as typewriters, cash registers, and adding machines helping to transform how people worked. And the economic explosion included not only industrial growth, but also a growth in agricultural technology such as mechanical reapers. In a time of such great expansion and fewer regulations surrounding wealth and business practices, circumstances were perfect for the rise of a class of extremely wealthy individuals who made up a very small percentage of society.

With technology booming and immigrants flocking to the United States seeking better opportunities for themselves and their families, they left their mark on the United States — and on history. The wealthy elite of the late 19th century consisted of industrialists who amassed their fortunes as so-called robber barons and captains of industry.

Both can be defined as business tycoons, but there was a significant difference in the way they made their fortunes. Robber barons typically employed ethically questionable methods to eliminate their competition and develop a monopoly in their industry.

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Often, they had little empathy for workers. Captains of industry, however, were often philanthropists. They made their wealth — and used it — in a way that would benefit society, such as providing more jobs or increasing productivity. Born inJohn D.

Captains of Industry or Robber Barons?

Rockefeller became one of the richest men in the world as the founder of the Standard Oil Company. Andrew Carnegie served as a great example of an American rags-to-riches story. Born to a poor Scottish family, he and his parents immigrated to the U. He built his fortune by investing in the steel industry and became the owner of Carnegie Steel Company, which by was the largest steel company in the world.

Despite some criticism of how some workers at Carnegie Steel were treated, Carnegie himself was extremely active in terms of philanthropy. At face value, Morgan contributed greatly to American industry. He also created the first billion-dollar company, U.

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At one point in his life, he was a board member of as many as 48 corporations. However, Morgan engaged in some unethical and anticompetitive practices to ward off competition. For example, he was believed to head a money trust that controlled the banking industry and was commonly considered a figurehead of Wall Street.

He also created a monopoly by slashing the workforce and their pay to maximize profits while eliminating the competition. When confronted with the possibility of regulations that could threaten his bottom line, he and other robber barons of the time contributed money to ensure that a business-friendly presidential candidate, William McKinley, was elected in Despite the numerous negatives associated with how Morgan built his wealth, some of his actions did benefit the United States and society.

For example, his wealth was so vast that he was able to help bail out the federal government twice during an economic crisis, first in and again in Automaker Henry Ford was a captain of industry who is considered to have treated his workers well.

He believed that well-paid workers would be happier and more efficient. In addition, during a time when workers were required to work 10 hours a day, six days a week, Ford scheduled his workers for eight-hour days, five days a week.

Captain of Industry or Robber Baron Essay

Ford was known to be generous with his wealth in terms of charitable contributions. He donated personal funds to organizations that he created, such as the Henry Ford Hospital for the working poor who could afford to pay only some of the cost of their medical care.

Other organizations created by Ford included the acre Valley Farm for orphaned boys; a school for African American children in Georgia; and a Detroit trade school. He also paid for work camps for boys during the Great Depression.