USA HISTORY

Detailed explanation-1: -robber baron, pejorative term for one of the powerful 19th-century American industrialists and financiers who made fortunes by monopolizing huge industries through the formation of trusts, engaging in unethical business practices, exploiting workers, and paying little heed to their customers or competition.

Detailed explanation-2: -The term “robber baron” dates back to the Middle Ages and carries a negative connotation. Robber barons typically employed ethically questionable methods to eliminate their competition and develop a monopoly in their industry. Often, they had little empathy for workers.

Detailed explanation-3: -Robber Barons These men used union busting, fraud, intimidation, violence and their extensive political connections to gain an advantage over any competitors. Robber barons were relentless in their efforts to amass wealth while exploiting workers and ignoring standard business rules-and in many cases, the law itself.

Detailed explanation-4: -During the late 19th century, many leading industrialists were perceived in different ways: some interpreted them as captains of industry as they reinvested back into society, whilst most knew them as ‘robber barons’ because of their greed and exploitation of workers.

Detailed explanation-5: -Robber barons contributed to great economic and industrial expansion in the U.S. by building financial empires in key industries, such as railroads and steel. With fewer business regulations than there are today, robber barons were able to amass great wealth.