The mid to late 19th Century, into the 20th Century, created a vacuum of opportunity for capitalists in America to dawn their influence and make a great impact on American society. With the Industrial Revolution storming full speed ahead in the United States, men like John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, and J.P. Morgan used their business ingenuity of ‘trusts’, ‘pools’ and other business tactics to rein supreme in their respective markets. These influences, however, were not perceived well by the lower classes, as many felt the brunt of these tactics, and ended up getting hurt, as the capitalists got richer. Thus despite the philanthropy and economic strife gained through these men, it will fall on deaf ears as their …show more content…
The businessmen of the Gilded Age focused solely on their ascension to power, disregarding those who they left behind or damaged economically. Henry George stated in Progress and Poverty in 1879, “the wealthy class is becoming more wealthy; but the poorer class is becoming more dependent” (Doc 1). George discussed the polarity between the wealthy and poorer classes, and how it has grown into two separate entities over time and as the Golden Age had continued on. The drawing, “The Robber Barons of Today” satirized the growing power of the capitalists through the usage of their tactics (taxes, trusts, etc.) (Doc 4). This illustration was used to show how the tycoons had become too powerful, in the eyes of some people, to an extent of extreme oppression. Using ‘pools’, horizontal integration, and assuming smaller companies in order to extinguish competition, are all the forte of the Vanderbilt business. Despite the large income of Cornelius Vanderbilt, the capitalist did not treat his workers well, in terms of their wages or living conditions. Instead, the millionaire rather invested in lavish houses or items, reflecting the wealthy lifestyle of many of these capitalist elites (Doc 6). In “The Concentration of Industry, and Machinery in the United States”, E. Levasseur stated, “...he had worked in seventeen years in England, and that conditions were much better than in America” (Doc 7). As the polarity between the rich and poor grew greater, workers became aggravated with the lack of attention from the industrialists. Workers began to protest, as reflected in the Homestead Strike of 1892, which was put down by private security, the Pinkertons, at the Carnegie steel mill. This perceived anguish by the capitalist tycoons, allowed growth for the Populist Party to take rise
“Everything looks good on the outside, but in the inside it’s not”. “Gilded age critics argued that the concentration of wallet in the bank accounts of the rich robbed workers of just compensation and gave the few to much power. Andrew Carnegie one of the nations leading industrialists and among the richest Americans of the era defended the concentration of wealth” (Document 18-4 Gospel of Wealth). There was an inequality of wealth which the article Carnegie wrote The Gospel of Wealth explained that there is a gap between him and his workers and how Carnegie believes in Social Darwinism, survival of the fittest. Social Darwinism provided justification for the increasing society unequal of wealth being distributed to very few people and the poor weren’t as “fit” as the rich people.
During the post-Civil War period, an era commonly referred to as the Gilded Age, the United States faced a rapid expansion of industrialization and simultaneous economic growth. Despite the comprehensive surge of economic production, this period was also an era of abject poverty and inequality as wealth became highly concentrated. The development of industry was driven by a small number of capitalists who have been portrayed as either ingenious and industrious leaders who transformed the American economy, or as avaricious and callous businessmen who would neglect the conditions of his/her workers and competitors to accumulate wealth. The labeling of such capitalists as either captains of industry or robber barons, or both, purely mirrors the
Throughout the 19th century, industry as a whole became a major power house of society. Lust for invention and scientific thinking were encorporated into the mindsets of the American population. Sparked from thought and invention -- most notably from Thomas Edison, Alexander Graham Bell, the Wright Brothers, and Henry Ford -- industry was vital in influencing social and economic competition. As poverty increased in America -- resulting from rapid immigration and a competitive market economy -- so did wealthy individuals gain monetary stature. While some of those gaining wealth during this time period could be considered "Robber Barons", as they manipulated the law, influenced elections, and misinterpreted the truth in order to make gains,
This essay will generally analyze the relationship between the government and businesses, and how “Big Business” essentially took control of the Gilded Age. America’s first true big business mostly arose because of the railroads, which is fairly significant, because it essentially helped lead the development of other business barons such as, John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan who all had particularly extraordinary accomplishments in shaping our economy. Most of these men who created big businesses after the Civil War were driven by a compelling desire to become rich and influential.
Labor leaders such as George E. McNeill treated the railroad president as “a railroad king.” (Doc B) Similarly, Andrew Carnegie established vertical integration in steel industries, and John Rockefeller accomplished both vertical and horizontal integration with his Standard Oil Trust. These businesses created a Victorian morality, further distancing the upper class from the working class. A firm believer in Social Darwinism, Carnegie directly addressed the widening wealth gap in his Gospel of Wealth. He promoted the use of philanthropy
During the Gilded Age, Andrew Carnegie became a wealthy man due to his control over the manufacturing and distribution of steel. The Carnegie Steel Company and its use of vertical and horizontal integration allowed Carnegie to control the production and distribution of his steel, which made him into a wealthy industrialist (The New Tycoons 2014). In his article “Wealth”, Andrew Carnegie argues for the wealthy to give back their wealth to the community by providing “public institutions of various kinds … [to] improve the general condition of the people” (Foner 30). He uses this article to promote his Gospel of Wealth idea and provide his interpretation of the changing American society. Carnegie’s Gospel of Wealth stated that “those who accumulated
"The golden gleam of the gilded surface hides the cheapness of the metal underneath.” This remark by Mark Twain, an renown social commentator, sums up the corruption that concerned many during the 19th century (“Exhibitions”). It is estimated that one percent of the population had possession of 88 percent of the nation’s assets (Brinkley 477). Many felt their rights as a citizen of a republic were endangered because so few people controlled such power and money (Brinkley 472). People were concerned that the robber barons were using that power to control the prices to their own personal benefit (Brinkley 476).
A novel by Mark Twain and Charles Dudley Warner not only lent its name to this period, it also coined the phrase that became widely known as the era’s slogan: “Get rich, dishonestly if we can, honestly if we must.” Capitalists accumulated wealth and power, while a lack of labor laws–or unions–allowed for ‘slave-like’ working conditions. Laborers were seen as ‘property’, had no job security, were treated poorly, and wages were inadequate. Living conditions were worse. Americans saw political corruption, prolonged economic downturns, and a new social order that created a divide and sparked conversations about ‘classes.’
I choose to defend the prompt of my choice in more detail. In the 1870's, as the Civil War receded into memory, the United States became a leading Industrial power. Advances in technology and new access to the immense resources of the North American continent drove American Industrialization. This industrialization brought the growth of new American cities such as Chicago, and the arrival of a flood of immigrants from all over Europe to man the factories. During the Gilded Age, businessmen reaped enormous profits from this new economy.
The Gilded Age was an age of rapid economic growth. Railroads, factories, and mines were slowly popping up across the country, creating a variety of new opportunities for entrepreneurs and laborers alike. These new inventions and opportunities created “...an unprecedented accumulation of wealth” (GML, 601). But the transition of America from a small farming based nation to a powerful industrial one created a huge rift between social classes. Most people were either filthy rich or dirt poor, with workers being the latter.
Labor strikes and riots were common during the time. Policies were put into place to prevent individuals from gaining this much power ever again. In todays’ modern Gilded Age loopholes have been exploited and the rich are becoming just as powerful as they have ever been. Individuals such as the Koch Brothers have taken up the plutocratic mantle, they “buy politicians” in order to further their agenda and business
The late 19th century was full of growth, production, and business. People were craving power and seemed to achieve this through any means necessary. Consequently, a new business elite formed consisting of the richest men alive. The way in which these individuals acquired all their profits is something very contradictory even over one-hundred years later. Some historians characterize these businessmen as “robber barons” who used extreme methods to control and concentrate wealth and power, and being supported by multiple sources, this statement is justified but only to some extent.
His work, The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy, allows readers to see a more picture perfect outlook on what the lives of these men entitled. Morris’s book was published in 2005, which allows readers to get a perspective from a long period of time and closer to reality rather than other historians writing on this era. The last author that allows readers to view the Robber Barons in a different manor is James Nuechterlein in his journal article Gifts of the “Robber Barons.” Nuechterlein wrote this article in 2007 allowing readers to view the men through historical resources that he uncovered. His stance shows a more balanced approach to the Robber Barons rather than saying one or the other was a better man than the other.
History Paper The Industrial Revolution brought radical change to the United States in what is now called the Gilded Age. As the country transitioned from an agricultural based economy to a industry based economy, the richest men in American history were crowned. The legacy of these men, now deemed robber barons by some, and captains of industry by others, have shaped America forever. One of the most prominent figures of the time, Andrew Carnegie, pushed America forward, and made amazingly generous charitable contributions, but the scandals regarding the treatment of his employees will forever tarnish his legacy.
Michael Moore once said, “Capitalism is an organized system to guarantee that greed becomes the primary force of our economic system and allows the few at the top to get very wealthy and has the rest of us riding around thinking we can be that way too - if we just work hard enough.” Had Horatio Alger met Michael Moore, he would have agreed with his sentiments about greed being a dangerous force in a capitalist society. He also would have supported the fact that Americans are hard working, but Alger, in his book Ragged Dick, paints a more optimistic view of the “respectable core” of hard working magnanimous people who made his 1860’s society work. In Alger’s depiction, holding on to respectability and disavowing greed, in addition to hard