The Myth Of The Robber Barons

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The Myth Of The Robber Barons Robber Barons are known as ruthless capitalist or industrialist of the late 19th century, known to have gain wealthyness by exploiting natural resources, corrupting legislators, or other unethical means. The Myth of the Robber Barons is a book about the entrepreneurs Cornelius Vanderbilt, James J. Hill, Andrew Mellon, Johne D. Rockefeller, the Scranton family, and Charles Schwab. Many in todays sociaty would argure that these men were all robber barons, but this book gives us a hole new look in the history of these men and there lives and all they did for the rise in the U.S economic power. This book devides these men into two groups; market entrepreneurs, which are Hill, Vanderbilt, and Rocketfeller, and the political entrepreneurs, Mellon, Schwab, and the Scranton family. Hill, Vanderbilt, and rockefeller, succeeded my making quality products at low competitive prices. Edward collins a political entrepreneur known for steamships and leaders of the Union Pacific Railroad were poeple known to used the power of government to succeed. They would try to use the government to stop competitors; they were hard on the taxpayers and really a thorn in the side of the market entrepreneurs. Often the Pollitical entrepreneurs failed without the help of the goverment, because they could not produce competive products. The author tells about how Andrew Mellon an oil and aluminum entrepreneur, became the Secretary of Treasury under Coolidge. It tells also how Mellon was the first American to do supply-side economics. Things like how he supported cuts on income tax rates for all groups. Rate cuts on the wealthy americans , from 73 percent to 25 percent, freed up a lot of investment capital and led to a lot of e... ... middle of paper ... ...ill had potential. but eventualy the state ended the contract, saying the credits no longer can be approved for the company. so in the end enterdel claimed less than 1 percent of the credits it was eligible for. so in the end the political entreorebeurship is not as successfull as the marketing one, even though they still are able to have success; the companys reliability of goverment funding realy can some times be cripling when agreements are not met. where as the marketing entrepreneurships some times takes more time and hard work most ofting with the right mind comes out great in the finatial part. i realy enjoyed this book and the knowledge i attained from it and also all the research websites i read too. i learned alot about the history of american entrepreneurs and all they have did for our nations econimy and also todays entrepreneurs trails and tribulations.
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