USA HISTORY

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WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900

ROBBER BARONS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
“This truth involves both a menace and a promise. It shows that the evils arising from the unjust and unequal distribution of wealth, which are becoming more and more apparent as modern civilization goes on, are not incidents of progress, but tendencies which must bring progress to a halt; that they will not cure themselves, but, on the contrary, must, unless their cause is removed, grow greater and greater, until they sweep us back into barbarism by the road every previous civilization has trod. But it also shows that these evils are not imposed by natural laws; that they spring solely from social maladjustments which ignore natural laws, and that in removing their cause we shall be giving an enormous impetus to progress.”
A
Captain of Industry
B
Robber Baron
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -“Material progress does not merely fail to relieve poverty, it actually produces it. This association of progress with poverty is the great enigma of our times. It is the riddle that the sphinx of fate puts to our civilization. And which NOT to answer is to be destroyed.”

Detailed explanation-2: -He argued that since economic progress entailed a growing scarcity of land, the idle landowner reaped ever greater returns at the expense of the productive factors of labour and capital. This unearned economic rent, he held, should be taxed away by the state.

Detailed explanation-3: -We honor Liberty in name and in form. We set up her statues and sound her praises. But we have not fully trusted her.

Detailed explanation-4: -He inspired the economic philosophy known as Georgism, the belief that people should own the value they produce themselves, but that the economic value of land (including natural resources) should belong equally to all members of society.

There is 1 question to complete.
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