Robber Barons
Robber Barons, a term used in the late 1800s and early 1900s to describe a businessman who made an enormous amount of money, today we would call them billionaires. It was not really the fact they made an extreme amount of wealth, it was more the way they made it. In all the cases the acquiring of wealth was done in what was considered a ruthless manor and unscrupulous ways. A robber baron was more interested in acquiring wealth than the safety of his employees, the amount of work hours performed in a week, or the amount of wage being paid for a days work. For example Andrew Carnegie(the robber baron of the steel industry), he was instrumental in starting the 72 hour work week, paying out less than fair wages and having dangerous working conditions. The robber barons were known for their business tactics that would enable them to amass a wealth by monopolies. They would corner the market on a product or service and make it almost impossible to get, accept through them. One such person was James B. Duke (robber baron of the tobacco market).James Duke started marketing tobacco from his fathers tobacco farm at an early age. He developed a market for tobacco though a
This in turn eventually got his name on one, Duke University in Washington, DC. A millionaire by his own rights also a philanthropist who gave a lot of his money back to society. htmlFighting Modern Day Robber Baronshttp://www. Perhaps this could be looked at as more of them feeling like they could be in control of man kinds destiny, or by giving something back the guilt would be lifted for being so ruthless in the business world. For instance James Duke or the Duke Endowment gave money to several Universities. When the market he developed, started growing he started buying up other tobacco companies in order to be the only supplier of the product. htmRobber Baronshttp://econ161. Now if we were to take a look at Bill Gates who has been accredited as being the richest man in the world today, we would not see a lot of giving back to the community. This made them more user friendly and a very usable tool for personal and business use. htmlReturn of the Robber Baronshttp://worldpolicy.
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