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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Rockefeller brought artistic movements like the harlem Reanaissance tro American society.
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Rockefeller, founder of standard oil, monopolized many industries to become wealthy.
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Rockefeller was able to manipulate United States Congress demonstrating the rampant corruption in the american politicical system.
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Rockefeller was able to expand his oil industry to 90% of the Third World nations.
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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: -The term “robber baron” refers to the entrepreneurs who built this country’s industrial base, transportation infrastructure, and financial markets in the post–Civil War era.
Detailed explanation-3: -Why were the Industrial Capitalists referred to as “robber barons"? Industrialists often took advantage of other people economically. Industralists stole from the rich and gave to the poor.
Detailed explanation-4: -John D. Rockefeller’s Standard Oil Company acquired pipelines and terminal facilities, purchased competing refineries, and vigorously sought to expand its markets. Those practices enabled the company to negotiate with railroads for favoured rates on its shipments of oil.