Avarice In America When the topic of American economics arises, the infamous Robber Barons of the 19th Century often springs to mind. They are often glorified as "Captains of Industry" for their money making strategies and enterprising methods. Those who hold this view probably do not know the evils of the laissez-faire capitalism in which the Robber Barons believed and participated. They wanted an unrestricted system of economics so that they could amass as much money as they could to out do each other and control the power in society. They were not as glorious and generous as some people make them out to have been. In laissez-faire capitalism, there are no restrictions on business so the enterprising capitalists were able to obtain monopolies by combining with other companies or simply buying them out. By doing this, the owners could raise the price of their goods or services to an intolerable amount so that they could gain even more money. This often put the common working people out of a job because the owners could get children and poor European and Asian immigrants to do the same menial factory jobs for pennies a day. This angered the Unions of America because their livelihood depended on the American working class. The Unions then persuaded the government to regulate the business giants and control the amount of money the companies could take in by disallowing monopolies and child labor. The "Kings of Capitalism" disregarded the impact their actions had on the lives of the working class men and their families. Many went hungry because of the lack of jobs available and were forced to go into debt to the companies that was impossible to be repaid. The Robber Barons would do almost anything to gain more money and more power even putting hard working people out of their houses. It is often said that money is the root of all evil. The Robber Barons of the late 19th century proved this theory without fail. They showed that greed can overtake morals if the conditions are right. It is very evident that the Robber Barons had no qualms about ruining the lives of the people that worked for them and of society in general.
In this essay, the author
- Explains that the infamous robber barons of the 19th century are often glorified as 'captains of industry' for their money making strategies and enterprising methods. they wanted an unrestricted system of economics to amass as much money as they could to outdo each other and control the power in society.
- Analyzes how the 'kings of capitalism' disregarded the impact their actions had on the lives of the working class men and their families.
- Explains that the robber barons of the late 19th century proved that greed can overtake morals if the conditions are right.
- Explains that the robber barons had no qualms about ruining the lives of the people that worked for them and of society in general. the working class will never collapse, however, because the upper class needs them.
Related
- analytical
- explanatory
- opinionated
- Essay On The Stock Market Crash Of 1929analytical essayThe Stock Market was being abused for years. Long term wise, people who used the stock market began to use credit to buy their stocks, borrowing from banks, and were unable to pay back their loans. The Government during this time used a policy of Laissez Faire, the consolidation of corporation was not challenged, favoring the wealthy (FEARON, PETER).
In this essay, the author
- Explains that the 1929 stock market crash marked a major turning point in the history of the united states.
- Explains that the 1929 stock market crash created chaos and panic in america. it was caused by overproduction and underconsumption of goods, and credit in the market.
- Explains that the stock market was being abused for years. people used credit to buy stocks, borrowing from banks, and were unable to pay back their loans. the government used a policy of laissez faire, the consolidation of corporation was not challenged.
- Explains that as the confidence in the stock market began to fall, the people who bought stock were eager to sell. this created a chain reaction, which led to an exit of foreign investors.
- Explains that president hoover refused to send financial aid to the people for the united states, saying it would be a disservice to unemployed. franklin delano roosevelt became the person who got the nation out of the depression and into world war 2.
- Explains how hoover refused to accept blame for the stock market crash, but instead took credit for golden age before hand.
- Analyzes how roosevelt's first new deal helped strengthen the nation after the stock market crash. roosevelt promised to pass legislation within the first 100 days of his election. congress passed the emergency banking relief act.
- Explains roosevelt's speech in order to gain support of the american people to pass new pieces of legislation that would get america out of a depression.
- Explains that the glass-steagall act and the fdic were attempts to restore public trust in the deposit system and stop the need to withdraw.
- Analyzes how roosevelt created his "fireside chats" to connect with the american people, and to encourage nationalism during the depression.
- Concludes that the stock market crash of 1929 created a terrible place in american history, but the crash also strengthened the nation for the future.
1185 wordsRead More - Gilded Age Dbq Analysisanalytical essayBig businesses implemented harsh economic policies so that their owners could maintain a wealthy lifestyle at the expense of the factory workers. Since these Gilded area was mostly constituted of monopolies, these businesses could control the price of goods as they were the only producers
In this essay, the author
- Explains that the gilded age was considered one of the most prosperous eras of american history. many public spaces, such as universities and libraries, were built, but the american population lived in poverty and despair.
- Analyzes how big businesses implemented harsh economic policies so that their owners could maintain a wealthy lifestyle at the expense of the factory workers.
- Explains that big businesses controlled the government, allowing the passing of laws that could benefit the wealthy. they could postpone trials, and pardon corrupt criminals.
- Analyzes how the american public responded fiercely to the demands of big businesses, such as higher wages, shorter work hours, and healthcare for injured workers. the people's party was a rising political party with strong presidential candidate.
- Concludes that big companies donated huge sums of money to fund public areas, their corrupt control of the government, harsh economic policies, and the overwhelming response by the american public are all reasons why big governments were harmful to everyone.
802 wordsRead More - Robber Baronsexplanatory essayThe Robber Barons, as they were called, were the kings of American Industry and American Society during the late 1800's and early 1900's. Rich beyond the average man's wildest dreams, these industrialists were often criticized for their philosophies and their ways of making money. Robber Barons can also be viewed as immoral, greedy, and corrupt, and the evidence to support such a view is not difficult to find. Bribery, illegal business practices, and cruelty to workers were not uncommon in this period, and many of the most respected industrialists were also the most feared and hated.
In this essay, the author
- Explains that the robber barons were the kings of american industry and american society during the late 1800s and early 1900s. they were criticized for their philosophies and ways of making money.
- Explains that rockefeller was a robber of industry because of his forcible ways of gaining his monopolies. he was obsessed with controlling the oil market and master of the rebate game.
- Explains that hill was one of the many millionaires of his time that used bribery and like to aid his quest for wealth. his worst offenses were collusion and tricking bond holders about the real value of their bonds.
- Opines that george m. pullman is best remembered for his contributions to the railroad industry through the invention of his cars.
570 wordsRead More - Anti-Trust Lawsexplanatory essayThe anti-trust movement in America during the late 1800s and early 1900s is a prime example of the conflict in society between autonomy and responsibility. Trust-related issues tested the extent to which the government could allow businesses to maintain their autonomy and at the same time fulfill its responsibility to protect the right of the common worker. America was founded on the principles of free enterprise. Throughout its history, the United States government maintained a "laissez-faire" or "hands off" policy in regard to regulation of business. However, in the late 1800s public demand for the government to regulate big business in order to protect the rights of farmers and smaller business owners became overwhelming. The time had come for America's government to decide the extent to which it was responsible to protect smaller industry from big business. Owners of big businesses had to be forced to take social responsibility for the underhanded and cutthroat methods they were using to eliminate the competition. As a result, congress made several attempts to manage the corporate giants. A series of laws passed around the turn of the century brought the U.S. government closer to successful regulation of business.
In this essay, the author
- Explains the anti-trust movement in america during the late 1800s and early 1900s is a prime example of the conflict in society between autonomy and responsibility.
- Explains how the railroad industry eliminated competition and allowed them to charge whatever rates they wanted.
- Explains that the sherman anti-trust act failed to define "trust," "conspiracy," or "monopoly" and the courts found in favor of business seven times.
- Summarizes hacker and kendrick's the united states since 1865.
- Describes hacker, louis m. and benjamin b. kendrick's the united states since 1865.
- Cites haworth, paul j., the united states in our own times, 1865-1922.
- Explains that the interstate commerce act was a turning point in the government's traditional laissez-faire policy towards business.
- States that the clayton anti-trust act and the federal trade commission act of 1914 succeeded in controlling big business. the clayton act was an amendment to the sherman act.
- Opines that steven j. diner, a very different age (new york: hill and wang, 1998), 16; paul j haworth, the united states in our own times, 1865-1922.
1488 wordsRead More - Gilded Age Robber Baronsanalytical essayWhile countless people still argue about what category the businessmen would fit into, perhaps the argument could finally come to an end if people realized that this dispute is both old, and unnecessary. Regardless of personal opinion, the businessmen of the Gilded Age, while problematic in acquiring their wealth by today’s standards, also contributed great things to the United States that are still revered today, a whole century
In this essay, the author
- Analyzes how the gilded age businessmen fall into a gray area between avaricious and essential to the united states culture.
- Explains that in the gilded age, many opportunities arose as the economy boomed, leading to greedy people who wished to stay on top. social darwinism professed that the wealthy are powerful because they are nature's most capable and deserve to prolong their command of society.
- Argues that the colossal divide between the rich and the poor caused more and more outrage. the great depression did not give the public a good reason to support big businesses.
- Argues that businessmen of the gilded age cannot be defined as robber barons or captains of industry. carnegie followed the gospel of wealth and shared his luxury, while others like him kept everything he had to himself.
- Concludes that the businessmen of the gilded age were a mix of robber barons and captains of industry due to their separate philosophical beliefs, the wealth difference between the rich and the poor, and human nature.
772 wordsRead More - Bobber Baronsopinionated essayPeople like Andrew Carnegie, John D. Rockefeller, and J.P. Morgan are men who possessed the intellect, the foresight, and most importantly the work ethic to become powerful industrialists. These men displayed their work ethic to the country by being ruthless and tireless. They started something so important that a hundred years later it is still making a huge contribution to our country (Maury Klein pg. 32). What they started was the industrial revolution. Today our country is the most powerful in the world because of our great wealth. This wealth comes from the strength of our industry. “If thou does not sow, thou does not reap”(Hofstadter Recon.-Present Day pg.79). Carnegie, Rockefeller, and Morgan are the epitome of this statement.
In this essay, the author
- Opines that the american work ethic is something our country should be proud of. it is our right as americans to be able to work for these ideals.
- Explains that andrew carnegie, john d. rockefeller, and j.p. morgan possessed the intellect, foresight and work ethic to become powerful industrialists.
- Opines that unfair acts are not always illegal acts, and that ruthlessness is necessary in the cruel world we live in. jay gould is an example of a robber baron.
- Opines that had rockefeller not been ruthless in building his railroad empire, our country would not have had as strong a railroad system.
396 wordsRead More - Gangs Of America Analysisexplanatory essayWith the rise of big business, powerful people, and incorporated industries, corporate power shook the foundation of early America. Prior to the late 19th century, there weren 't many businesses that had an overwhelming amount of political, social, and economic control. Along with the businesses that overtook the urban environments came the wealthy individuals that accumulated mass amounts of wealth that were incomprehensible to the average American. Among these businessmen were John D. Rockefeller, dominating oil production, Andrew Carnegie, controlling steel, and Swift and Armour, taking on meat production. The were quite a few others who established large companies that turned into national corporations, such as Henry Heinz, Quaker Oats,
In this essay, the author
- Explains how the rise of big business, powerful people, and incorporated industries shook the foundation of early america.
- Explains that the war created corporations, jobs for women and minorities, and establishing wartime resources.
- Explains that the economic expansion in the 50's allowed expansion of business and corporations, both domestically and internationally. the war took a toll on the economy and it had to bounce back once the war ended.
- Explains how corporations have outsourced their labor to cut costs in developing countries, and have created devastating amounts of waste in other countries.
2363 wordsRead More - Essay On The Gilded Ageexplanatory essayFrom the end of Reconstruction in 1877 to the disastrous panic of 1893, the American economy nearly doubled in size. New technologies and new ways of organizing business led a few individuals to the top. The competition was ruthless. Those who could not provide the best product at the cheapest price were simply driven into bankruptcy or were bought up by hungry, successful industrialists.The so-called captains of industry became household names: John D. Rockefeller of Standard Oil, Andrew Carnegie of Carnegie Steel, and J. Pierpont Morgan, the powerful banker who controlled a great many industries. Their tactics were not always fair, but there were few laws regulating business conduct at that time. The United States had became the largest industrial nation in the world. However the prosperity did not reach everyone. Many manage to get by while many also struggled barely putting food on their family's table. American began to wrestle with this great question of how some struggled while others managed to be successful. Congress, the Presidents, and the Courts looked favorably on this new growth. But leadership was generally lacking on the political level. Corruption spread like a plague through the city, state, and national
In this essay, the author
- Explains that the gilded age was an era of rapid economic growth, especially in the north and west.
- Describes how the american economy doubled in size from the end of reconstruction in 1877 to the disastrous panic of 1893.
- Explains that white americans expanded their settlements in the western part of the country and claimed land traditionally used by american indians.
- Opines that there would be no longer any trust in civilization and the racial conflicts would always have a part of americans and how they saw the world. what would honestly put an end to all the conflict?
698 wordsRead More - Research Paper On The Gilded Ageexplanatory essayBusiness believed they were better off without the government involvement. Monopolies where another system that came out during the gilded age it controls the supplies and trades. Although monopolies brought benefits to industry, they also brought consequences of harsh labor conditions, and economic problems. Monopolies were not beneficial to the economy because they inflated prices, and hurt consumers. The gilded age was a time of horrible working conditions and violence. People worked 10-18 hours a week, about 6 days a week. Working in factories was very difficult, because many injuries and death occurred. Many workers couldn’t blame the factory owners because there was no safety rules. Also many workers couldn’t read instruction to operate machine because they didn’t speak English which caused many of them to endure injuries or even
In this essay, the author
- Explains that the gilded ages was a major population growth in the united states. it brought many new ideas, but also brought contradictions in many areas.
- Explains that the expansion of the united states was justified and inevitable, and many people moved to the west to be able to own land and for economic reasons, such as farming and mining.
- Explains that the south was a complex blend of racism and prejudice. the blacks faced discrimination, high debts, lack of technology innovation and soil exhaustion.
- Explains that laissez faire advocates stated that government involvement developed difficulties in the economic development. monopolies brought benefits to industry, but also brought consequences of harsh labor conditions and economic problems.
591 wordsRead More - The Industrial Revolutionexplanatory essayAmericans faced many hardships during the turn of the century. As our Nation was adjusting to the new technological advances they were making during the Industrial Revolution, it seems that some people were simply looked over in this new “rat race”. There were many problems that accompanied the new century, perhaps one of the largest though, was the expansion and dominance of big businesses. As though it may seem that large businesses may be a good thing, because of our dependence on them today, we simply weren’t ready for them a hundred years ago. Many big businesses had created monopolies, used Taylorism, and caused what was called a boom bust economy. These three events also forced many people to try and resolve these problems associated with the tremendous rise of big business.
In this essay, the author
- Explains that americans faced many hardships during the turn of the century, including the expansion and dominance of big businesses.
- Explains that many businesses created large monopolies, meaning that all markets are dominated by one or two firms. by 1900, approximately 98% of the oil industry was owned by standard oil company.
- Explains taylorism, which facilitated unskilled labor by copying what skilled labors knew and breaking it down into small simple jobs that anyone can do, much like an assembly line.
- Explains that taylorism, also known as scientific management, created what was called a boom bust economy. the market didn't always need these products as quickly as they were developed.
- Narrates how progressive movements began to fight for workers' rights. they investigated their problems, organized private groups, and sought government assistance.
- Explains that roosevelt wanted to fight for reform if not just for the people than the self-preservation of the nation. his objectives were to balance productivity, create public safety, and commence federal authority.
- Explains that at the turn of the century, people had tremendous tribulations to conquer. today, they can enjoy better working conditions, better pay, and the indisputable protection of their rights.
777 wordsRead More