USA HISTORY

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: -Captains of Industry and Robber Barons The wealthy elite of the late 19th century consisted of industrialists who amassed their fortunes as so-called robber barons and captains of industry. Both can be defined as business tycoons, but there was a significant difference in the way they made their fortunes.

Detailed explanation-3: -The term robber baron derives from the Raubritter (robber knights), the medieval German lords who charged nominally illegal tolls (unauthorized by the Holy Roman Emperor) on the primitive roads crossing their lands or larger tolls along the Rhine river.

Detailed explanation-4: -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.