Robber Baron Essay

& # 8217 ; s Essay, Research Paper

Robert Allen

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Robber Barons

Then and Now

Robber Barons, a term used in the late 1800s and early 1900s to depict a man of affairs who made an tremendous sum of money, today we would name them billionaires. It was non truly the fact they made an utmost sum of wealth, it was more the manner they made it. In all the instances the geting of wealth was done in what was considered a ruthless manor and unscrupulous ways. A robber baron was more interested in geting wealth than the safety of his employees, the sum of work hours performed in a hebdomad, or the sum of pay being paid for a yearss work.

For illustration Andrew Carnegie ( the robber baron of the steel industry ) , he was instrumental in get downing the 72 hr work hebdomad, paying out less than just rewards and holding unsafe working conditions.

The robber barons were known for their concern tactics that would enable them to accumulate a wealth by monopolies. They would corner the market on a merchandise or service and do it about impossible to acquire, accept through them.

One such individual was James B. Duke ( robber baron of the baccy market ) .James Duke started marketing baccy from his male parents tobacco farm at an early age. He developed a market for baccy though advertisement. When the market he developed, started turning he started purchasing up other baccy companies in order to be the lone provider of the merchandise. James Duke finally formed The Great American Tobacco Co. which became the biggest provider of coffin nails in the universe.

One thing the Robber Barons of today and yesterday have in common is monopolies. If it at all possible, the Robber Baron or billionaires as we call them today, would seek to corner the full market on their merchandise or service, doing it hard for competition in their peculiar industry.

James Duke did it by doing a market for coffin nails and cigars and purchasing up his competition so he was the biggest company to provide the merchandise.

Andrew Carnegie cornered the market on the steel industry and made the first high rise edifice. He was the lone concern in his field hence he could put his monetary values and up his net incomes.

Other Robber Barons in assorted markets were William Vanderbilt, he monopolized the railway concern leting him to put his ain monetary values for cargo and transition. John D. Rockefeller monopolized the oil industry with Standard Oil company.

Today AT & A ; T, the phone company, before deregulating controlled the huge bulk of the phone services, thereby monopolising the phone services.

American Airlines, there unscrupulous concern tactics would drive out rivals from countries they wished to command by holding monetary value wars until the resistance could no longer vie and would hold to shut their doors for concern.

But the biggest and wealthiest of them all, Bill Gates proprietor of Microsoft Corporation created an operating system for computing machines to work with and the market to sell that system. Before Bill Gates came along computing machines were merely an informational beginning. What of all time was programed into them was retrievable but you could non add information to them. Basically they were merely a large file cabinet. Bill Gates made it to where you can speak to the computing machine and add information to them. This made them more user friendly and a really useable tool for personal and concern usage. But merely like the Robber Barons of yesterday Gates cornered the market for his package by orchestrating a selling program that would necessitate computing machine companies to pay him X sum of dollars for every computing machine they sold, whether or non the computing machine had his package on it or non. Now if you think about it, the computing machine companies had no pick but to set his package on the computing machines they sold. Kind of sounds like a monopoly to me.

Philanthropy

The other side to the Robber Baron coin. For some unknown ground the Robber Barons felt it necessary to give back tremendous sums of their wealth to the society they took if from, or possibly a better manner to set it is earned it from? It wa

s done in a mode that for the most portion immortalized the giver. For case James Duke or the Duke Endowment gave money to several Universities. This in bend finally got his name on one, Duke University in Washington, DC. Duke besides gave money to infirmaries, child care establishments for inkinesss and Whites and the Methodist church.

Andrew Carnegie felt so strongly about philanthropic gift that he was inspired to compose the landmark essay & # 8220 ; The Gospel of Wealth & # 8221 ; . Some would state Carnegie was merely out for ego glory because he would construct and finance libraries but neglect to provide them with the much needed books. Carnegie was quoted as stating, & # 8220 ; The adult male who dies therefore rich dies disgraced & # 8221 ; . Before it was all said and done through Carnegie & # 8217 ; s altruist contributions, he would give off about 350 million dollars or shut to 90 % of his lifelong acquired wealth.

Others considered altruist were, J.P. Morgan, he gave away a huge sum of his wealth to assorted establishments. Henry C. Frick, Andrew Carnegie & # 8217 ; s right manus adult male smuggler of his companies. A millionaire by his ain rights besides a altruist who gave a batch of his money back to society.

Possibly one of the most good known modern twenty-four hours altruist would be George Soros. Soros is accredited for giving off 1 billion dollars over a affair of yearss back in 1992. Soros made his luck by puting, but non simply puting in the market as we know it but puting in full states and their misfortunate prostration of their economic systems. Soros made this billion dollars by currency guess, wagering right on the prostration of the British lb. Soros devoted most of his money back to Eastern Europe, where he has set up foundations in 25 separate states.

Now if we were to take a expression at Bill Gates who has been accredited as being the richest adult male in the universe today, we would non see a batch of giving back to the community. Gates has had some turns of giving but sing his wealth 1 might state it is fiddling. And if you were to take a expression at the concluding behind his giving it would demo up every bit still being to his favour. Such as giving a little sum of computing machines to the schools so as to let the pupils entree to the cyberspace through his ain placeholder waiter, thereby recognizing a net income.

Decision

It would look that most of the Robber Barons of yesterday and today made their money by unscrupulous tactics, or monopolies. These monopolies were created by the Robber Barons themselves and by what of all time means possible they made every attempt to maintain their strong clasp in their concern every bit long as possible. Now there is a downside to this although they were over bearing in their concern tactics, stepping on who of all time they had to do a net income at that place seem to be a certain sum of guilt involved. For unknown grounds they felt it necessary to give back a big sum of that net income to better society. Possibly this could be looked at as more of them experiencing like they could be in control of adult male sorts destiny, or by giving something back the guilt would be lifted for being so ruthless in the concern universe.

And every bit far as Bill Gates goes possibly one twenty-four hours he will wake up and recognize adequate is adequate and be more of a altruist himself.

Mention Beginnings

Biography.com

hypertext transfer protocol: //www.biography.com/cgi-bin/biomain.cgi

James B. Duke

hypertext transfer protocol: //www.duke.edu/web/Archives/history/jbduke.html

Andrew Carnegie

hypertext transfer protocol: //www.worth.com/articles/M9611F04.html

Andrew Carnegie

hypertext transfer protocol: //www.worth.com/articles/Z9611C01.html

Contending Modern Day Robber Barons

hypertext transfer protocol: //www.amcity.com/denver/stories/1997/01/27/editorial3.html

Forward Thinking

hypertext transfer protocol: //www.worth.com/articles/Z9611R.html

Tax return of the Robber Barons

hypertext transfer protocol: //worldpolicy.org/americas/usa/fasttrack.html

Bill Gates, Robber Baron

hypertext transfer protocol: //www.businessweek.com/1998/03/b3561030.htm

Robber Barons

hypertext transfer protocol: //econ161.berkeley.edu/Econ_Articles/carnegie/DeLong_Moscow_paper2.html