The Pros And Cons Of Robber Barons

In a time when economics and advancements were the most crucial parts of life, there were entrepreneurs who took advantage of their wealth and status to manipulate the economy and the less fortunate citizens. It is a powerful question throughout history whether these influential yet dictatorial men were captains of industry who allowed the economy to advance and flourish or robber barons who benefitted off the work of the lower classes and the betrayal of democracy. It is not arguable, however, that the only correct answer to this question would be that these men flourished and exceeded through the exploitation of the labor of the lower class which leads to the conclusion that they were robber barons. These men such as Cornelius Vanderbilt

Webster Dictionary defines a robber baron as “an American capitalist of the latter part of the 19th century who became wealthy through exploitation (as of natural resources, governmental influence, or low wage scales) [or/and] a business owner or executive who acquires wealth through ethically questionable tactics”. This definition impeccably defines Cornelius Vanderbilt and his ethical morals in his approach to business and economics in which he consistently took advantage of and caused harm to the lower classes. One example of this that is often undermined is the story of Vanderbilt during the California Gold Rush. Vanderbilt went to California to gain money and wealth through the gold rush, however when a company that was working with Vanderbilt refused to pay him, Vanderbilt swore to ruin them. He followed through and undercut their prices so greatly

Rockefeller. Rockefeller was known as one of the most ruthless and heartless businessmen that this time due to the way that he gave little regard towards the businesses that he destroyed. One example of this was George Rice, a man whose life was utterly destroyed over a single ultimatum. During the nineteenth century, George Rice was a businessman in the oil business until John D. Rockefeller did not like the competition and offered him an ultimatum of either having his business destroyed or selling it to Rockefeller for a significant amount less than what it was worth. When Rice declined, Rockefeller began making it impossible for him to run his business through acts such as lowering wages on Rice’s oil so the people lost money and owning train cars and making the price of the railroad use more expensive so Rice could not afford it. George Rice is just one example of how John D.Rockefeller has manipulated his way to the top despite the effects on the lower class people. Another example of John D. Rockefeller's negative impact on society is the idea of monopolization that he used. Rockefeller would buy up all the components needed for the manufacture of oil barrels in order to prohibit his competitors from getting their product on the market. By doing this, he prohibited the working