WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ROBBER BARONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Captain of Industry
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Robber Baron
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Either A or B
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None of the above
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Detailed explanation-1: -After his retirement, Andrew Carnegie donated most of his money (over $350 million) to establish libraries, schools, and universities, as well as a pension fund for former employees.
Detailed explanation-2: -J.P. Morgan At face value, Morgan contributed greatly to American industry. He invested in Thomas Edison and the Edison Electricity Company; helped to create General Electric and International Harvester; formed J.P. Morgan & Company; and gained control of half of the country’s railroad mileage.
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: -Robber barons were seen to be negative forces in the society; ruthless businessmen solely concerned with personal benefit, whereas captains of industry are transformative leaders generating great industrial strength and benefit to the society.