WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
IMMIGRATION IN INDUSTRIAL AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Why were people like John D. Rockefeller and Andrew Carnegie sometimes called Robber Barons?
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They stole European art treasures and sold them for profit in America.
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They were convicted of stealing from their companies.
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They used ruthless business tactics to enrich their business holdings.
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They gave much of their wealth to the poor.
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Explanation:
Detailed explanation-1: -Included in the list of so-called robber barons are Andrew Carnegie, Cornelius Vanderbilt, and John D. Rockefeller. Robber barons were accused of being monopolists who earned profits by intentionally restricting the production of goods and then raising prices.
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.
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