Question

Compare the strategies used by two industrial capitalist leaders (robber barons) to build their businesses. Include an explanation of why these leaders were both admired and hated.

A) Cornelius Vanderbilt and John D. Rockefeller used aggressive tactics to dominate their industries, which earned them admiration for their business acumen but also hate for their ruthless methods.
B) Andrew Carnegie and J.P. Morgan focused on vertical integration and financial control, leading to admiration for their business prowess and criticism for their monopolistic practices.
C) Both Vanderbilt and Rockefeller employed ruthless competition and strategic acquisitions, earning respect for their wealth and power but criticism for their anti-competitive actions.
D) Carnegie and Morgan's philanthropic efforts earned them admiration for giving back, but their business practices were criticized for crushing competition.

Answer 1

Industrial capitalist leaders Andrew Carnegie and John D. Rockefeller are known for their business strategies of vertical and horizontal integration, which led them to dominate their respective industries. They were admired for their successes but also criticized as 'robber barons' for their methods of competition and negative impact on others.

Step-by-step explanation:

The industrial capitalist leaders of the late 19th century, Andrew Carnegie and John D. Rockefeller, employed various strategies to build their businesses. Carnegie, who rose from modest means and became the dominant force in the American steel industry, practiced vertical integration by purchasing all stages of production, from raw materials to transportation, allowing him to cut costs and ensure quality control. Rockefeller, who led Standard Oil, utilized not only vertical integration but also horizontal integration, buying out competitors to monopolize the oil industry, often through ruthless tactics that drove others out of business.

These leaders were admired for their business prowess, with Carnegie leading the expansion of the American steel industry and Rockefeller greatly reducing kerosene prices. However, they were also perceived as 'robber barons' due to their aggressive business practices that decimated competition and raised questions regarding their ethical conduct and the impact on workers and consumers.