USA HISTORY

Detailed explanation-1: -Today’s so-called robber barons or captains of industry run digital monopolies, using similar 19th century tactics to drive out competition, exploit customer’s personal information, avoid taxes and engage in highly unethical business practices.

Detailed explanation-2: -The term robber baron is also sometimes used to describe any successful businessperson whose practices are considered unethical or unscrupulous. This behavior can include employee or environmental abuse, stock market manipulation, or deliberately restricting output to charge higher prices.

Detailed explanation-3: -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-4: -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.