USA HISTORY

Detailed explanation-1: -"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-2: -The term robber baron derives from the Raubritter (robber knights), the medieval German lords who charged nominally illegal tolls (unauthorized by the Holy Roman Emperor) on the primitive roads crossing their lands or larger tolls along the Rhine river.

Detailed explanation-3: -Captains of Industry and Robber Barons 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.

Detailed explanation-4: -Robber Barons used the ideas of Social Darwinism, the notion that corporate consolidations provided social mobility and opportunity, and the great economic prosperity available to justify the existence of monopolies.