Robber Barons

Savannah Noss Period 1 3/2/13 APUSH Robber Barons, a term used in the late 1800s and early 1900s to describe a man of affairs who made an enormous amount of money, today we would call them billionaires essay source price. It was not really the fact they made a myriad of wealth, it was more than the way they made it. In all the cases the acquiring of wealth was through in what was considered a ruthless manor and unscrupulous ways. A footpad baron was more interested in acquiring wealth than the rubber eraser of his employees, the amount of work hours performed in a week, or the amount of pay being paid for a days work.A great example of a marauder baron would be Andrew Carnegie. The footpad baron of the steel industry. He was instrumental in starting the 72 hour work week, pay out less than fair wages and having dangerous working conditions. Andrew Carnegie command the market on the steel industry and made the first noble rise building. He was the only business in his field, therefore, he could set up his prices and up his profits. The robber barons were known for their business tactics that would enable them to garner a wealth by monopolies.They would corner the market on a product or service and make it almost impossible to get, take up through them. One thing that robber barons of today and yesterday collapse in common is monopolies. If at all possible, the robber baron or billionaire as we call them today, would try to corner the ideal market on their product or service, making it difficult for competition in their cross industry. A second robber baron of that time was John D. Rockefeller. The robber baron of the oil industry.Rockefeller monopolized the oil industry with Standard Oil Company. When Edwin Drake discover oil in 1859, Rockefeller saw the future. He introduced techniques that completely reshaped the oil industry. He used all of his methods to reduce the price of oil to his consumers. His profits so bed and his competitors were l ow one by one. Rockefeller forced smaller companies to surrender their stock to his control. some other great example of a robber baron is Thomas Edison. The robber baron of the electricity, the light bulb.In 1876, Edison opened a lab where hundreds of inventions were created, including the first forever electric light bulb and an improved version of Graham tam-tams telephone. His light bulb would come to serve as an of the essence(predicate) part of industrialization. Because of his invention, factories could stay open longer and produce more goods, His designer station in New York City gave power to almost the entire city. Within ten years, almost all of the United States had power. Those men realise the title of being called a robber baron because of all the things they created that benefitted society. They were and are robber barons of their time and ours.