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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they were willing to use any means to win the war against their competittion
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they increased the supply of goods and created many jobs
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they created a technological revolution with their ideas
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they drained the country of its natural resources
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Detailed explanation-1: -people saw them as Captains of Industry because they were inventive, hardworking and led the way in the rise of American business.
Detailed explanation-2: -"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.
Detailed explanation-3: -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-4: -Some 19th-century industrialists who were called “captains of industry” overlap with those called “robber barons”. These include people such as Cornelius Vanderbilt, Andrew Carnegie, Andrew Mellon, Leland Stanford and John D. Rockefeller.