What is meant by the term Captains of industry?

Answer 1

The term "Captains of Industry" could be seen in newspapers and magazines of the mid-to-late 1800s. It referred to the wealthiest, most influential business owners. It was supposed to be a compliment, praise for the entrepreneurs who had succeeded in business, men like railroad and steel executive Andrew Carnegie, at one time considered the richest man in the world. Carnegie was a major philanthropist as well as a successful business leader, and millions of people admired him.

But other industrialists acquired a far more negative reputation. There was a small, elite group of rich businessmen who seemed to the general public to have too much power, and who wielded that power only to benefit themselves. Public opinion began turning against them when journalists reported on actions that made these business leaders seem heartless and greedy rather than heroic and innovative; cartoonists also took them to task. The public began calling them "Robber Barons," referring to how they robbed from the poor to benefit the rich. However, the term "Captains of Industry" did not die out. It was still used well into the early 1900s, and described the most powerful and influential businessmen.