Gould, Carnegie, and Rockefeller were some of the most prominent robber barons of the Gilded Age. Each has a monopoly in his respective industry: finance, steel, and oil. The most common way to form a monopoly was to buy out your competitors, and Rockefeller was a master of this technique. By creating a monopoly, the men above would raise the prices of their goods and service to intolerable amounts and the people would have no choice but to pay the ridiculous price. This way of business often put the working class Americans out of business and money-and these robber barons did not care. As one famous author of this era, Mark Twain, put it, "The lack of money is the root of all evil" (Twainquotes.com) In the case of Gould, Carnegie, and Rockefeller, the lack of more money was the source of their evil.
"Corruption lurks nearby when fabulous fortunes can materialize overnight" (Bailey 534). The railroad industry is where Jay Gould had lurked. For almost thirty years, Jay Gould built and destroyed the stocks of many railroad companies (Erie, Kansas Pacific, Union Pacific, and many more) (Class Notes-Stock Manipulation). Gould used a technique known as "stock watering", this simply meant that Gould would artificially inflate the value of a company's stock, sell the stock at the terribly high price, and pocket the profits. The company whose stock was just sold would then go bankrupt and leave the stockholders with nothing. Gould succeeded with this technique by bribing judges and legislatures, employing lobbyists, and electing his own partners into high office positions (Bailey 535). This coupled along with the invention of the "pool" promised Gould huge success in the railroad industry. These pools also artificially fixed shipping rates, one of Gould's specialties (Class Notes-Stock Manipulation). .
However, the competition between railroad companies was brutal and this lead to many dishonest and immoral business tactics and practices.
That these, "Robber Barons", did what they could to provide for their family and themselves. ... Rockefeller Sr. are the two biggest examples of Robber Barons. ... These men were given the title "Robber Barons" for a reason. Although the Robber Barons appeared evil, they were a necessary evil. ... Not all the Robber Barons were completely money hungry. ...
The term "Gilded Age" was actually coined by Mark Twain who satire the Gilded Age with a Golden Age. Politically, economically and socially the Gilded Age was truly a "Gilded Age". ... The "robber barons," two major depressions and the labor unions (though not originally a bad thing) did add to the age. ... Labor Unions were also created during the Gilded Age, which added to the idea of the Gilded Age being truly "gilded". ... Labor unions, the two major depressions and the three "robber barons" were three of the foremost reasons the Gilded Age go...
Many "robber barons" used the system of vertical and horizontal integration to gain control within industry. ... During the Gilded Age, large national corporations became the dominant fact of the business world. ... The Gilded Age was a also a period of time of massive immigration. ... "Robber barons," worked for their own benefit, not worrying about the effect it would have on others. ... Monopolies and total success were the goals of "robber barons" Although referred to as "robber barons," these men also contributed to many things. ...
The Gilded Age politicians were largely corrupt and ineffective. ... The Gilded Age was a time of good and bad times. However, the negative effects of the Gilded Age is tremendous. ... They saw Carnegies and Rockefellers of the world as robber barons, who fix prices and stole from the honest hardworking Americans to increase the personal fortunes. ... The Gilded Age was a difficult era in the history of the United States. ...
During the era of industrialization two important individuals, Carnegie and Rockefeller rose above their fellow man contributed to the formation of what is now America; although their methods of success may be unusual, it is irrational to consider them either Captains of industry or Robber barons. ... Several businesses sprung up and fought to remain profitable during the Gilded age. ... [He wrote "That while the law of competition may be sometimes hard for the individual, it is the best for the race because it ensures survival in every department."] http//:life.com Because of these actions ...
During the late 19th and early 20th centuries, the Gilded Age refers to a time in American History where there was massive economic growth, technological advances, and developments in pop culture. ... Many industrialists were considered robber barons. A robber baron is a capitalist who became wealthy through exploitation whether it's the natural resources, governmental influence or low wages for their workers. One robber baron during this time is Cornelius Vanderbilt who changed the way trade, transportation, and communication was conducted. ... Billy, who Vanderbilt entrusted with mu...
The Gilded-Age, Reconstruction Era and the Age of Imperialism were periods of time that affected the first half of the American 20th century, changing the face of American identity. ... The Gilded Age was caused by industrialization. ... The robber barons lived completely differently than the rest of the population in the U.S. ...
For the answers to these questions we must go back into the times of the industrial revolution and the period known as the Gilded Age. ... There were the very, very affluent people, (known as Robber Barons) and the very, very poor people living in slums. ...
