While some industrialists were referred to as "captains of industry" due to their significant contributions to the growth and development of the American economy, ultimately, their actions and methods of acquiring wealth and power, such as their monopolistic practices and corruption/bribery, classify them as "robber barons" who prioritized their self-interests over the well-being of society and the economy.
The manipulation of markets ultimately ruins the natural flow of the market and results in many advantages for very few already wealthy individuals. John Pierpont Morgan, better known as J.P. Morgan., was an extremely successful industrialist who eventually merged his business with his father's company to form J.P. Morgan and Company. Through
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One person who continuously used bribery was industrialist James Fisk. Fisk was heavily involved in the railroad industry as he used illegal methods to stake his claims in the companies. To win the cases of ownership, he would constantly bribe government officials, the most famous being George C. Barnard, to help sway the decision to Fisk's side. In the case of the Susquehanna Railroad, the court had decided that Robert H. Pruyn, the former owner, would remain the company owner. However, Fisk showed up at the railroad with papers signed by Barnard that claimed that Fisk was the rightful owner. In exchange for Barnard's help, Fisk would supply Barnard with either money or shares of stock from the companies Fisk owned. By using his wealth and power to influence government decisions, Fisk was able to maintain his interests at the expense of others. His shady activity reflects how an artificial decision in court can have an immense effect on everyone involved, even if they might not be deserving. Fisk's bribery of Barnard to gain favorable decisions and further his financial power was a direct example of the corrupt actions of a robber baron. Another example was industrialist Leland Stanford. Like Fisk, Stanford was also very heavily involved in the railroad industry. To build the transcontinental railroad, Stanford and his colleagues gained huge loans from members of Congress after gaslighting them into doing it. As a result, they gained around 9 million acres of land and almost twenty-four million dollars from federal bonds. Like Fisk, Stanford's bribery of congress members to secure favorable treatment and government funds for his railroad project was a prime example of a corrupt business strategy to further one's wealth and power. Using his wealth and influence to sway government decisions, Stanford gained an advantage over his competitors and solidified his