1 / 8

Robber Barons or Captains of Industry?

Robber Barons or Captains of Industry?. Cornelius Vanderbilt. Railroads $185 billion (today’s money). JP Morgan. Banker US Steel General Electric AT&T $41.5 Billion (today’s $). John D Rockefeller. Oil (kerosene, gasoline) Standard Oil Company $340 billion (today’s). Andrew Carnegie.

noreen
Download Presentation

Robber Barons or Captains of Industry?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Robber Barons or Captains of Industry?

  2. Cornelius Vanderbilt • Railroads • $185 billion (today’s money)

  3. JP Morgan • Banker • US Steel • General Electric • AT&T • $41.5 Billion (today’s $)

  4. John D Rockefeller • Oil (kerosene, gasoline) • Standard Oil Company • $340 billion (today’s)

  5. Andrew Carnegie • Steel • Carnegie Steel Co. • Bessemer Process – cheap steel • “Gospel of Wealth” • $310 billion (today)

  6. Trusts • Vertical Integration – control every step of the manufacturing process • Brainstorm – automobile • Carnegie – steel • Horizontal Integration – ally with competitors to control an entire market • Brainstorm – Nike • Rockefeller – Oil • Trust– group of companies controlled by a single board

  7. Good or Bad? Captains of Industry Robber Barons Long hours, small wages Monopolists Child labor Destroyed small businesses Unfair business practices • Philanthropists • Grand Central Station • Rockefeller Center • Carnegie-Mellon University • Vanderbilt University • Carnegie Libraries • University of Chicago • Jobs • Cheaper products • Bailed gov’t out

More Related