THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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they provided good paying jobs, but produced unsafe products.
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they provided new goods and services while underpaying theirlaborers.
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they supported workplace reform but drove their competitors outof business
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they worked closely with their competitors and charged consumers incredibly high prices.
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Detailed explanation-1: -Powerful industrialists like Carnegie and Rockefeller were called both “Captains of Industry” and “Robber Barons” because. they worked closely with their competitors and charged consumers incredibly high prices. they supported workplace reform but drove their competitors out of business.
Detailed explanation-2: -"Robber baron” is a term used frequently in the 19th century during America’s Gilded Age to describe successful industrialists whose business practices were often considered ruthless or unethical. Included in the list of so-called robber barons are Andrew Carnegie, Cornelius Vanderbilt, and John D. Rockefeller.
Detailed explanation-3: -Should industrialists like Vanderbilt, Carnegie, and Rockefeller be viewed as “robber barons” or “captains of industry"? Captains; They were the ones that popularized the industry. They may have been “robber barons” the majority of the time, but their titles are rightfully earned.
Detailed explanation-4: -Andrew Carnegie earned the title of the “richest man in the world” in 1901 when he sold his steel corporation for $480 million. In today’s dollars that equals $12.3 billion. Carnegie claimed he was a captain of industry because he started out as a poor, immigrant teen, who worked hard and became a success.