Topic > The Rise of Captains of Industry and Robber Barons

Some 19th century UN industrialists were known as "captains of industry" and overlap with those called "robber barons". These include individuals such as JP Morgan, Andrew Carnegie, Andrew W. Mellon, Henry Ford, and John D. Rockefeller. There was a time in US history when business magnates and titans of industry boasted far greater wealth than today's leading innovators and visionaries of technology. During America's Gilded Age – which lasted much of the second half of the 19th century, from about 1870 to 1900 – inflation-adjusted wealth and the impact of America's higher numbers overshadowed that that we see today. The wealth of individuals such as John D. Rockefeller, Cornelius Vanderbilt, Henry Ford and Andrew Carnegie would be measured, by today's standards, in the many hundreds of billions of dollars, far more than that of tech giants such as Elon Musk, Bill Gates, Mark Zuckerberg and others. even Jeff Bezos, the richest individual in the world in 2019. Such vast wealth can often highlight the financial inequality of an era. It is this concept of greatness in the face of unresolved social concerns that led Mark Twain to coin the phrase "Gilded Age" in his 1873 novel The Gilded Age: A Tale of Today. The headline recommended that the thin veneer of elite wealth hid broader problems for many in the lower-middle classes. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay However, the advancements made in the United States during the Gilded Age cannot be denied. As part of the Second Industrial Revolution, the country experienced a formidable economic expansion, driven by the extraordinary figures of wealth and power of the time. Much of this growth was thanks to railroads – which currently stretched from coast to coast – as well as factories, the steel industry and coal mining. Big business exploded, with technologies like typewriters, cash registers, and adding machines helping to transform the way people worked. And the economic explosion included not only industrial growth, but also the growth of agricultural technology, such as mechanical harvesters. In a time of such great expansion and less regulation of wealth and business practices, circumstances were perfect for the growth of a class of extremely wealthy individuals who made up a very small percentage of society. They had the power and means to create opportunities and jobs for many, although with a lower social priority on workers' rights, problems such as discrimination, exploitation and low wages marked the era. The wealthy elite of the late 19th century were industrialists who amassed their fortunes as so-called robber barons and captains of industry. Both are known as business tycoons, but there was a huge difference in how they made their fortune. The term “robber baron” dates back to the Middle Ages and carries negative connotations. Robber barons generally used ethically questionable methods to eliminate competition and develop a monopoly in their industry. They often had little empathy for workers. Captains of industry, however, were usually philanthropists. They created their wealth – and used it – in ways that benefit society, for example by creating many jobs or increasing productivity. It has been argued that only if such individuals were ready to accumulate large amounts of capital could our country become the greatest industrial power in the world.world. I'm on the fence about this because it's easy to see them both as "captains of industry" who make our lives easier, but they can also be called "robber barons." But you have to wonder where they do it to make our lives easier or because it puts money in their pockets. So, I'm not so sure of my position. For those in the industrial sector, organized unions have fought for higher wages, affordable hours and safer working conditions. The labor movement has led efforts to prevent child labor, provide health benefits, and provide aid to injured or retired workers. The origins of the labor movement date back to the formative years of the American nation, when a free market for wage labor emerged in craft trades at the end of the colonial period. The first planned strike occurred in 1768, when New York tailors protested against reduced wages. The formation of the Federal Society of Journeymen Cordwainers (shoemakers) in Philadelphia in 1794 marks the beginning of sustained union organizing among American workers. From then on, local craft unions proliferated in the cities, publishing “price” lists for their work, defending their crafts from diluted, cheap labor, and, increasingly, demanding a shorter workday in the face of Industrial Revolution. . Therefore, a work-focused orientation quickly established itself and, in its wake, followed the main structural components that characterize American unionism. First, with the formation in 1827 of the Union of Mechanics' Trade Associations in Philadelphia, central labor workers began to unite craftsmen's unions within the city, and then, with the creation of the International Typographical Union in 1852, national unions began to bring native unions with them. of constant trade from throughout the United States and Canada (hence the frequent union designation “international”). Although the factory system was emerging during these years, industrial workers played a very limited role in the initial development of unions. In the nineteenth century, trade unionism was primarily a movement of skilled workers. Knights of Labor and AFL (American Federation of Labor) are several unions present in the United States. The AFL was a full-fledged federation of trade unions whilst the Knights of Labor were much more secretive. One of the main differences between the Knights of Labor and the American Federation of Labor is that the former was more radical. The formation of the Knights of Labor can be traced back to the Noble Order of the Knights of Labor, a secret union founded in 1869 by Uriah Smith Stephens and James L. Wright. Once Terence V. Powderly came to the helm after Stephens, the organization gained national recognition. This union became common among Pennsylvania coal miners during the economic depression of the 1870s. It was after this event that the Knights of Labor established itself as a major workers' union. They achieved their greatest victory in the Union Pacific Railroad strike (1884) and the Wabash Railroad strike (1885). The Knights of Labor had made several demands, such as legislation to end forced labor and child labor. Doctors, bankers, stockholders, Asians, Chinese and lawyers were not included in the Knights of Labor as they were considered unproductive members within society. Although the union flourished as a leading union, its membership declined due to mismanagement, autocratic structure, and unsuccessful strikes. It was after the decline of the Knights of Labor that the American Federation ofWork gained extreme popularity. The AFL was launched in Columbus, Ohio in 1886. Socialists such as Peter J. McGuire and Gompers were behind the formation of the AFL. But in the years that followed, the union saw a shift in policy towards conservative politics. The American Federation of Labor adopted the philosophy of “business unionism,” which emphasized contribution to profit and national economic growth. The obvious causes of the First World War included politics, secret alliances, imperialism and nationalistic pride. However, there was a single event, the assassination of Archduke Ferdinand of Austria, which began a chain of events that resulted in war. The first events leading to the United States' declaration of war on Germany were the Zimmerman telegram and Germany's proclaimed intention to resume unrestricted submarine warfare. For some time American sentiment had tilted in favor of the Allies and against the alliance. Americans felt a standard affinity with the English because of the common language. Furthermore, Woodrow Wilson made no attempt to hide his hatred for people of German descent. He once referred to German Americans as “hyphenated Americans.” Anti-German sentiment was also intense after the sinking of the RMS Lusitania in 1915; but this was not the reason for the United States' entry into the war. After that event President Wilson beautifully commented "there is such a thing as being too proud to fight." Following the sinking of the Lusitania, Germany had issued its Arab Pledge (sometimes called the Sussex Pledge) in which the High Command promised that it would not sink Allied ships without first giving adequate warning. Many things changed the situation: the British often waved the flags of neutral countries on their ships and also rammed German U-boats pretending to allow boarding. Even then the war was at a stalemate, and so the Germans had to try to do something to maneuver the war effort. This led to the consideration on 31 January 1917 that Germany would resume unrestricted submarine warfare the following day. On February 25, 1917, President Wilson received a hijacked German telegram at the German embassy in Mexico City extending the "lost territory" of Arizona, New Mexico, etc. to Mexico. (lands lost by Mexico to the United States in the Mexican-American War). of 1848) if Mexico declared war on the United States. The British had intercepted the telegram and handed it over to the United States with a clear plan to ensure the United States' entry into the war on the Allied side. On March 17, 1917, Germany capsized five U.S. merchant ships, and on April 2, President Wilson delivered a war message to Congress. War was declared on April 6, 1917. In 1919, for the first time, the Senate denied a peace treaty. By a vote of 39 to 55, well short of the required two-thirds majority, the Senate rejected approval of the Treaty of Versailles. President Woodrow Wilson personally negotiated the treaty after World War I, promoting his vision of a peace system imposed by a League of Nations. Once the treaty reached the Senate in July, Democrats largely supported the treaty, however, Republicans were divided. The “reservationists,” led by Senator Henry Cabot Lodge, prepared to approve the treaty only if some reservations or modifications were adopted. The “Irreconcilables” rejected the treaty in any form. In November, Lodge sent the treaty with 14 reservations to the Senate floor, prompting an angry Wilson to convince Democrats to.