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How was laissez fair practiced in the gilded age?
The U.S. government rarely intervened in business affairs. Entrepreneurs like Morgan, Rockefeller and Carnegie did as they wished, true to the laissez-faire ideology (non-intervention).
What was the significance of John D Rockefeller Andrew Carnegie and Jay P Morgan to the organizing and promoting of late 19th century US business and industry?
John D. Rockefeller, Andrew Carnegie, and J.P. Morgan were pivotal figures in shaping late 19th century American business and industry. Rockefeller revolutionized the oil industry and established the Standard Oil Company, creating a model for corporate monopolies. Carnegie transformed the steel industry through innovative production methods and vertical integration, while Morgan played a crucial role in financing and consolidating industries, leading to the formation of major corporations like U.S. Steel. Together, they exemplified the era's rise of industrial capitalism, shaping the economy and influencing American society.
Why were john d Rockefeller Andrew carnegie and john p Morgan called robber barons?
They were the richest men of their time and they controlled the oil, railroad, and banking of the nation. They lived like kings and paid their workers as little as they could. Carnegie came from Scotland with nothing, but through ruthless means he worked to become the richest. Rockefeller and Morgan were also ruthless in their dealings. This made them Robber barons stealing from the poor to make themselves richer. We have robber barons too with the 1% richest today.
How did the Vertical integration help businesses such as Carnegie's Company and tycoons like Andrew Carnegie?
Vertical integration occurs when a company owns several parts of the chain that ends in a finished product. For example, if the company produces the raw ingredients and also owns the means of turning those ingredients into finished products, this gives them an advantage compared to a company that has to find someone to use their raw product.
Why would some people label John D. Rockefeller as a Robber Baron and others label Rockefeller as a generous humanitarian philanthropist?
Because he was both.
How did monopoly help businesses such as the carnegie company and tycoons like andrew carnegie?
They owned all of the same industries
What are entities like Carnegie Hall and the Rockefeller Foundation examples of?
Carnegie Hall and the Rockefeller Foundation are examples of cultural and philanthropic institutions. Carnegie Hall is a renowned concert venue that promotes the arts, while the Rockefeller Foundation focuses on social impact and improving well-being through various initiatives. Both entities reflect the contributions of wealthy individuals to society, particularly in the realms of culture, education, and social welfare.
19th century industrialists like Andrew Carnegie and John D. Rockefeller were called what?
Robber Barons
How did the perception of tycoons as robber barons harm businesses such as Standard Oil and tycoons like John D Rockefeller?
This perception took power away from tycoons such as Rockefeller, and businesses lost a lot of money.
Why politicians like boss tweed similar to industrial magnates like Carnegie and Rockefeller?
Politicians like Boss Tweed and industrial magnates like Andrew Carnegie and John D. Rockefeller both wielded significant power and influence during the Gilded Age, albeit in different realms. They shared a common interest in accumulating wealth and maintaining control over their respective domains—political and economic. Both utilized their influence to manipulate systems to their advantage, with Tweed leveraging political corruption and patronage while Carnegie and Rockefeller employed monopolistic practices. Ultimately, they exemplified how personal ambition and the pursuit of power can shape societal structures, often at the expense of the public good.
How were politicians like Boss Tweed similar to industrials magnates like Carnegie Rockefeller?
Politicians like Boss Tweed and industrial magnates like Carnegie and Rockefeller both wielded significant power and influence during the Gilded Age, albeit in different spheres. Both groups often engaged in corrupt practices to maintain their dominance, with Tweed exploiting political systems for personal gain while Carnegie and Rockefeller used monopolistic strategies to control industries. They also shared a common goal of accumulating wealth and resources, often at the expense of the working class. Ultimately, both exemplified the era's themes of ambition, corruption, and the intertwining of politics and business.
How were political like boss tweed similar to industrial moguls like Andrew carnegie and john D Rockefeller?
Both Boss Tweed and industrial moguls like Carnegie and Rockefeller held significant power and influence in their respective fields during the late 19th century in the United States. They amassed wealth and used their influence to control politics and business operations. Additionally, they were known for their monopolistic practices and strategies to expand their wealth and power.
What was the name given to industrial leaders like John D. Rockefeller and Andrew Carnegie by their opponents?
Industrial leaders like John D. Rockefeller and Andrew Carnegie were often referred to as "robber barons" by their opponents. This term was used to criticize them for their business practices, which were seen as exploitative and unscrupulous, leading to vast wealth accumulation at the expense of workers and competition. The term implied that they used unethical means to amass their fortunes, contributing to economic inequality.
What are a few industrialists who gaine wealth and power in the US?
There were 400 families by the 1920's that were the richest of all. They were the robber barons and had names like Rockefeller, Kennedy, Carnegie, Ford, and others.
Why are Rockefeller and Carnegie known as robber barons?
John D. Rockefeller and Andrew Carnegie are often labeled as "robber barons" because they amassed vast fortunes in the late 19th century through aggressive and often unethical business practices. Rockefeller dominated the oil industry with Standard Oil, using tactics like price-cutting and secret deals to eliminate competition. Carnegie, in the steel industry, employed similar strategies and was known for harsh labor practices, including the infamous Homestead Strike. Their immense wealth and influence raised concerns about monopolistic practices and the exploitation of workers, leading to the "robber baron" label.
How was laissez fair practiced in the gilded age?
The U.S. government rarely intervened in business affairs. Entrepreneurs like Morgan, Rockefeller and Carnegie did as they wished, true to the laissez-faire ideology (non-intervention).
How was Rockefeller a captain of the industry?
Using horizontal consolidation, Rockefeller took hold of the entire petroleum refining process. He ruled only that part of the process, and revolutionized it. Someone like Andrew Carnegie used vertical consolidation, in which he controlled every aspect of the steel business, from mining to manufacturing to transporting to selling.
