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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A businessman who used possibly illegal tactics to force other companies out of business
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An entrepreneur who sold their product for high prices in order to make a large profit.
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Regular people who would try to force companies out of business they did not like.
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Someone who would force companies to sell product cheaply so that regular people could afford new things.
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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.
Detailed explanation-2: -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-3: -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-4: -While the term has largely gone out of style, robber baron was an expression used to negatively describe powerful American businessmen of the 19th century. It was applied to those who were viewed as using unethical or exploitative business practices to amass great wealth.