USA HISTORY

WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900

AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which one of these men was NOT a robber baron with a monopoly and unethical business practices?
A
Andrew Carnegie
B
John D. Rockefeller
C
Thomas Edison
D
J.P. Morgan
Explanation: 

Detailed explanation-1: -Many so-called robber barons-James J. Hill, Andrew Carnegie, Cornelius Vanderbilt, and John D. Rockefeller-became wealthy entrepreneurs through product innovation and business efficiency.

Detailed explanation-2: -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-3: -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.

Detailed explanation-4: -Robber barons such as Carnegie and his contemporaries like J.P. Morgan, John D. Rockefeller, Cornelius Vanderbilt, and Henry Ford were known for their business acumen and monumental achievements in American Capitalism.

There is 1 question to complete.