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: -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: -Jay Gould was a railroad developer and speculator. He was arguably the most ruthless robber baron of the Gilded Age and one of the richest men of his era.

Detailed explanation-4: -Robber barons took over industries such as railroads, banks, steel, cotton, oil, tobacco and liquor. To monopolize these industries, they would use tactics such as creating trusts, exploiting workers, and disregarding customers or competition.