WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“rags to riches”
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“riches to rags”
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“laissez to faire”
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“faire to laissez”
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Detailed explanation-1: -Key Takeaways. “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.
Detailed explanation-2: -Andrew Carnegie (1835-1919) was one of the most successful businessmen and most recognized philanthropists in history. His entrepreneurial ventures in America’s steel industry earned him millions and he, in turn, made great contributions to social causes such as public libraries, education and international peace.
Detailed explanation-3: -During the Gilded Age, proponents of laissez-faire policies opposed government intervention in society or the market. Laissez-faire ideology influenced government policies toward labor relations and Reconstruction.
Detailed explanation-4: -They were called robber barons because the business leaders built their fortunes by stealing from the public. They drained the country of its natural resources and persuaded public officials to interpret laws in their favor.