WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Industrial Revolution
|
|
|
Bessemer Process
|
|
|
JP Morgan
|
|
|
Hull House
|
Detailed explanation-1: -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-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.
Detailed explanation-3: -How did Andrew Carnegie differ from other robber barons of the Industrial Age? Late in life, Carnegie became more famous for his philanthropy than his economic greed. Late in life, Carnegie developed the socialist system of a welfare state in the steel industry.