Captains Of Industry Essay - 1360 Words

In the late 1800s and early 1900s, during the climax of the American Industrial Revolution, there was a small group of men who owned the major businesses and were leaders of their industries. They owned factories, railroads, banks, and even created company towns for the sole purpose of housing their workers. Due to the efforts of these few men, the U.S. economy became the envy of the world, and America became a leading world power. They provided the public with products that were in high demand for reasonable prices, and opened their markets to countries overseas. Although many people believe the early industrialists were Robber Barons who exploited the poor, these great men were truly Captains of Industry who created new ways of doing†¦show more content†¦Although some of these criticisms are well founded, men like Andrew Carnegie and John D. Rockefeller were, in fact, Captains of Industry because they employed millions and created new ways of doing business. Before al l these industrialists can along, America was just another country that had little significance to the world. If it was not for them, we as a nation would not be where we are today. The industrialists prospered mainly due to their wit, and the many innovations that they brought to their various fields of business. They created monopolies because they were the most effective forms of enterprise, and there were no laws that prohibited or restricted their use. As John D. Rockefeller himself said, I believe in the spirit of combination and cooperation when properly conductedÂ….It helps to reduce waste, and waste is a dissipation of power.(Danzer 424) Critics say that these men ruthlessly took over their fields of business, and did not play fair. Whats wrong with striving for success? Whats wrong with being efficient? Whats wrong with making a product that no one can equal? Whats wrong with besting your competitors? Nothing. The principal reason for the success of the industr ialists was their ability to provide products and services to the public at reasonable rates. This was also the main reason that they were so despised and vilified by their competitors and the covetousShow MoreRelatedRobber Barons versus Captains of Industry520 Words   |  2 PagesRobber Barons vs. Captains of Industry During the Industrial Revolution of the 19th century, both robber barons and captains of industry were terms used to place businessmen into a good or bad category. The term robber baron is a representation of industrialist who used manipulative methods in order to reach enormous quantities of wealth. Some characteristics of robber barons were: they depleted America of its valuable resources, forced authority to pass laws that would work in there favor,Read MoreWas J.P. Morgan a Captain of Industry or a Robber Baron?669 Words   |  3 PagesWas J.P. Morgan a Captain of Industry or a Robber Baron? In the early nineteenth century the USA was very corrupt. It was a time were monopolistic businesses thrived, and small ones failed. In this time was when J.P. Morgan became the man controlling the most money in the world and ended up owning at his peak, forty companies. In the early nineteenth century J.P Morgan was both a Captain of industry and a Robber Baron. J.P. Morgan was considered by many a robber baron, and there are many reasonsRead MoreCaptains of Industry783 Words   |  3 Pagesdrove production and allowed for the rapid rise of industry under the theory of Social Darwinism. The ideas of vertical integration, horizontal integration, and monopoly led to the expansion of railroads, the use of kerosene from refined oil to light homes, and the American domination of the steel industry. These recently introduced concepts and their repercussions are indebted to the businessmen who sought to manipulate and dominate the industry. Despite beginnings in poverty, determination and innovationRead MoreThe Aviation Safety And How Communication1433 Words   |  6 Pagesairline industry enjoys in the world today. The entities include airplane manufacturers and suppliers, authorities that provide policy to the aviation from the government as well as the general populace that uses the airline industry to their convenience. The flaws in communica tion in the airline sector are herein evaluated. The causes and remedies of the flaws are further provided in this paper. Introduction There are different functions communication seeks to serve in the aviation industry as farRead MoreAnalysis Of The Term Captains Of Industry2304 Words   |  10 PagesThomas Carlyle coined the term Captains of Industry in his 1843 book â€Å"Past and Present† to describe forerunners in business which had accumulated vast personal fortunes and contributed positively to the country through some act. Amidst the second industrial revolution in America, names such as Vanderbilt (Rail), Carnegie (Steel), Rockefeller (Oil), Morgan (Electricity/Finance), and of course Henry Ford (Automobile) are often lionized for their achievements in building America into a modern day powerRead MoreRobber Baron Vs. Captain of Industry.1524 Words   |  7 PagesRobber Baron Vs. Captain of Industry? John D. Rockefeller was the guiding force behind the creation of the Standard Oil Company, which grew to dominate the oil industry. This company was one of the first big trusts in the United States, thus much controversy and opposition arose regarding business strategies and its organization. John D. Rockefeller was also one of the United States first major philanthropists, establishing numerous important foundations and donating close to $600 million to variousRead More Robber Barons and the Captains of Industry Made Americas Economy of Today862 Words   |  4 Pagesthat people could either become rich or poor. The whole issue with businesses came up in the 18th-19th century and was created by two factions in US history, the Robber Barons and the Captains of Industry. These two are what made the way America’s economy it is today. The Robber Barons and the Captains of industry were both very similar but completely different with how they operated in the economic world. Robber Barons made wealth in a variety of ways but still maintained the sense of thieves fromRead MoreAmerica’s Antebellum Capitalists: Captains of Industry or Robber Barrons?503 Words   |  3 Pageswas the trusts created to gear economical power and domination toward these men (doc. E). True, these men did utilize trusts and methods such as horizontal and vertical integration. However, if these men did not create such methods to harness the industry, there would have been no other alternative for America as a whole to grow. The South had already proved that dependence on a one-crop economy was a failing gamble, and all other innovations were too primitive and needed these men’s wealth and powerRead MoreAndrew Carnegie, John Davison Rockefeller, and John Pierpont Morgan: Captains of Industry831 Words   |  4 PagesIn the years following the Civil War, the American economy was suffering from extreme disorder. However, during the late 1800s and early 1900s, important lead ers of American industry arose, essentially transforming the American financial system from chaos to efficiency. These powerful men shaped America into a world superpower and the country’s economy sparked jealous across the globe. Their contributions to business positively affected not only the United States’ economy, but society as well. AndrewRead More19th Century s Famous Industrial Men : Robber Barons Or Captains Of Industry?1833 Words   |  8 PagesNineteenth century’s famous industrial men: Robber Barons or Captains of Industry? By: Justine Wetten Advanced U.S. History Mr. Unis January 5th, 2015 Discuss whether the industrial leaders of the late nineteenth century are more accurately described as â€Å"captains of industry† or â€Å"robber barons†? A. Plan of Investigation This investigation will assess whether the industrial leaders, such as, Andrew Carnegie, John Pierpont Morgan