Robber Barons or Captains of Industry.
The Industrial revolution opened the door for a handful of Americans to greatly prosper. Some looked upon these powerful industrialists as crooks, stealing from the public to build their fortunes. Others argued they served their nation in a positive way by increasing goods, creating jobs and expanding markets. "I believe the large business owners are Captains of Industry and are responsible for the prosperity of many.".
Andrew Carnegie once said, "If thou does not sow thou shall not reap." This means if you don't work you will not be fed. It only is fair the hardest working get the most. Carnegie started off as a telegraph boy making $2.50 a week. Through hard work and dedication he rose through the ranks of the railroad and iron industry to found Carnegie Steel. His business was so successful due to vertical consolidation, buying all phases of production. .
By controlling such a big business he created thousands of new jobs. New jobs mean more people have the money to spend at other businesses, which make the owners of those places wealthy and in turn boosts the economy. This is just another advantage of big business. Carnegie once said, "It is the millionaires who are the bees that contribute the most to the hive." Over his lifetime he donated over 300 million dollars to charity, created 3,000 public libraries and set up institutions on how to abolish war.
The other side of the argument says these business owners drained the country of its natural resources and persuaded public officials to interpret laws in their favor. I think this is just a small price to pay for many Americans prosperity. Henry George, a supporter of the Robber Baron theory once said, "The wealth has been greatly in creased and the average of comfort and leisure has been raised." Yes, the companies did pay their workers low wages but low wages are better than no wages.
