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: -Their critics called them “robber barons” because of the ruthless tactics they used to destroy competition and to keep their workers’ wages low. Two of the most successful entrepreneurs in this era were Andrew Carnegie and John D. Rockefeller.

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: -Four men in particular created monopolies and gained vast wealth during the Gilded Age: JP Morgan, Cornelius Vanderbilt, John D. Rockefeller, and Andrew Carnegie. JP Morgan was born John Pierpont Morgan on April 17, 1837.

Detailed explanation-5: -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.