GA - Captains of Industry or Robber Barons? Lesson

Captains of Industry or Robber Barons?

Ohio Works of the Carnegie Steel Co., September 19, 1910

75 “The man of wealth [should] consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer … to produce the most beneficial results for the community—the man of wealth thus becoming the mere trustee and agent for his poorer brethren, bringing to their service his superior wisdom, experience, and ability to administer, doing for them better than they would or could do for themselves.” (Andrew Carnegie, “Wealth,” 1889.)The late 19th Century saw the rise of the Second Industrial Revolution (much larger than the first phase before the Civil War). The United States was rapidly moving from an agriculture-based economy to an industry-based economy. A small group of industrial leaders became extraordinarily wealthy. Critics have asserted that these were greedy individuals who gained their wealth on the backs of the low-cost labor they employed while implementing questionable business practices. Others have countered that these industrial leaders were overall a positive force in growing the economy and exhibiting characteristics of hard work, innovation, and a philanthropic streak in giving money to charitable causes.

View the following presentation on the Rise of Big Business and read through this document from Boundless Links to an external site..

Please participate in the discussion forum for this topic after reading and viewing the information. You are being asked to consider if the industrial leaders were a positive force (Captains of Industry) or a negative one (Robber Barons).

 

RESOURCES IN THIS MODULE ARE OPEN EDUCATIONAL RESOURCES (OER) OR CREATED BY GAVS UNLESS OTHERWISE NOTED. SOME IMAGES USED UNDER SUBSCRIPTION.