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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Which robber baron invented the trust?
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J.P. Morgan
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Andrew Carnegie
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John D. Rockefeller
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Cornelius Vanderbilt
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Explanation:
Detailed explanation-1: -Rockefeller made his immense riches from monopolizing America’s oil industry. Conspiring with refinery owners, he helped found what became known as the Standard Oil monopoly.
Detailed explanation-2: -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-3: -The term, supposedly, comes from the medieval nobility who lived along the Rhine River and charged tolls on passing boats. Those robber barons, of course, were exactly that, robbers. They created no wealth.
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