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 advertising. When the market he developed, started growing he started buying up other tobacco companies in order to be the only supplier of the product. James Duke eventually formed The Great American Tobacco Co. which became the biggest supplier of cigarettes in the world.
             One thing the Robber Barons of today and yesterday have in common is monopolies. If it at all possible, the Robber Baron or billionaires as we call them today, would try to corner the entire market on their product or service, making it difficult for competition in their particular industry.
             James Duke did it by making a market for cigarettes and cigars and buying up his competition so he was the biggest company to supply the product.
             Andrew Carnegie cornered the market on the steel industr...