Final answer:
Andrew Carnegie can be seen as both a robber baron and a captain of industry, as he transformed the steel industry but also exploited workers. John D. Rockefeller is often characterized as a robber baron due to his monopolistic control over the oil industry.
Step-by-step explanation:
Andrew Carnegie
Andrew Carnegie can be considered both a robber baron and a captain of industry, depending on one's perspective.
On one hand, Carnegie was a captain of industry because he was responsible for transforming the steel industry in America. His company, Carnegie Steel Company, became the largest and most profitable steel company in the world, revolutionizing the production and use of steel. Carnegie's innovations in steel production allowed for the construction of railroads, bridges, and skyscrapers on a scale never seen before. Additionally, Carnegie's philanthropy, including the establishment of libraries and universities, demonstrated his desire to improve society.
On the other hand, Carnegie can be seen as a robber baron because of his ruthless business practices and treatment of workers. He used tactics such as vertical integration and economies of scale to eliminate competition and gain control over the steel industry. This led to the exploitation of workers, low wages, long hours, and poor working conditions.
John D. Rockefeller
John D. Rockefeller is often characterized as a robber baron due to his aggressive business tactics and monopolistic control over the oil industry.
Rockefeller's company, Standard Oil, dominated the oil industry and controlled as much as 90% of oil refining in the United States. He achieved this through horizontal integration, buying out competitors and controlling every aspect of the oil production and distribution process. Rockefeller's monopolistic practices allowed him to drive out competitors, manipulate oil prices, and exploit both workers and consumers.
Cornelius Vanderbilt
Cornelius Vanderbilt, like Carnegie and Rockefeller, can be seen as both a robber baron and a captain of industry.
Vanderbilt consolidated several smaller railroad lines to create the powerful New York Central Railroad Company, playing a crucial role in the expansion of the railroad industry. His aggressive tactics and aggressive pursuit of monopolistic control over the railroads led to the exploitation of workers and unfair business practices. However, Vanderbilt's consolidation and expansion of the railroads also contributed to the growth of the American economy and transportation system.