The "Robber Barons"

Paper Summary:

The paper explains that the term, "Robber Baron," was first used in America in about 1878 to refer to any American capitalist during the late 19th century who became wealthy through the exploitation of various sources, such as natural resources, governmental influence, or by paying low wages for work performed. The author points out that these "Robber Barons", namely, Andrew Carnegie, John D. Rockefeller, Cornelius Vanderbilt, and Henry Ford, were owners and managers of colossal capital and ultimately made themselves and America rich. The paper relates that they all possessed: (1) the true American trait of "rugged individualism"; (2) an overpowering need to acquire material things as a result of their upbringing, which mostly occurred in poverty; (3) subscribed to some type of commonly accepted philosophy, which aided them in (4) understanding the forces at work during their lifetimes; and (5) how to utilize these forces to their own and best advantage.

From the Paper:

"On January 10, 1870, Rockefeller incorporated the Standard Oil Company of Ohio and then sought to end the refining competition in Cleveland by forcing them either to join him or be eliminated. He also initiated a number of changes, a few being that the railroads must make more favorable "rebate" arrangements with Standard and refuse to export crude oil, due to Standard's plan to become the world's biggest exporter of crude oil. Thus, Rockefeller created the world's greatest oil refinery and literally wiped out all of his competition within the span of several years."

More papers on The "Robber Barons":

• Essay # 4941 : "The Robber Barons: American Capitalists of the Late Nineteenth Century"
• Essay # 89851 : "Impact of Robber Barons"
• Essay # 112319 : "Tycoons or Robber Barons"

APA Citation:

MLA Citation: