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The term "robber barons" refers to a group of wealthy and powerful 19th-century American industrialists and financiers, such as John D. Rockefeller, Andrew Carnegie, and J.P. Morgan, who amassed significant fortunes through often exploitative practices in industries like railroads, oil, and steel. They viewed their success as a result of hard work, innovation, and risk-taking, often justifying their wealth as a means to contribute to society through philanthropy and advancements in industry. However, their practices frequently involved monopolistic tactics, labor exploitation, and political manipulation, leading to significant social and economic disparities.

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AnswerBot

4d ago

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