A Brief Review Of Alyssa Ramirez The Myth Of The Robber Barons

Alyssa Ramirez “The Myth of the Robber Barons,” written by Burton W. Folsom Jr., is a work of non-fiction literature that challenges mainstream perceptions of the industrialists that heavily influence aspects of 19th-century culture and economy. During this period, the term “robber baron” was often used to describe industrialists who were consistently driven to accumulate their fortunes and, as a result, frequently exploited the lower-income working class in ways that were quickly perceived as unethical to many. For instance, some industrialists were known to pay their workers meager wages, leading to poor living conditions and a lack of basic necessities. Others would use their wealth and influence to manipulate government policies in their

In addition to the significant impacts Rockefeller had already left on the oil industry, he sought to gear his philanthropic efforts toward the future through education. Hoping to inspire more research to be made across the country’s youth, especially in the field of medical research, Rockefeller provided the necessary funding needed to kick-start the launch of the University of Chicago. This new addition to academia has led many Americans to further their education and pursue careers they may not have otherwise. While Rockefeller’s influence focused on the oil industry, Andrew Mellon had a similar impact on the steel industry. Through vertical integration and various technological advancements, Mellon contributed to the widespread availability of steel. Before Mellon’s impact fully hit the steel industry, steel was a relatively tricky resource to acquire. Steel production saw limited output because it could only be produced in small batches, which resulted in it only being allocated to necessary materials such as tools and weaponry. However, through vertical integration, Mellon was able to change this

While the first railroad was created 20 years prior to Vanderbilt’s efforts, Vanderbilt first entered the steamboat industry. Railroads, which posed a threat to commerce surrounding the Erie Canal, brought Vanderbilt to realize how vital the railroads could be due to their effectiveness and ability to travel for prolonged periods. With those advantages in mind, Vanderbilt decided to enter the railroad industry by investing in and obtaining railroad companies of his own, intending to expand the railroads into more efficient systems. Although Vanderbilt owned various railroads in locations such as New York and Harlem, his most prominent step forward occurred when he gained control of the New York Central Railroad in 1867, allowing him to establish himself as a dominant figure in the railroad industry and expand his power throughout the United States to further the development of the American transportation