Final answer:
The industrialists like Carnegie and Rockefeller are considered both Captains of Industry and Robber Barons depending on their business practices and contributions.
Step-by-step explanation:
The industrialists such as Carnegie and Rockefeller can be considered as both Captains of Industry and Robber Barons. The term 'Captains of Industry' refers to their new business models, entrepreneurial approaches, and philanthropic efforts, which transformed America in the late nineteenth century. However, some of their ruthless business practices and exploitation of workers may also be likened to the methods of robber barons.
For example, Andrew Carnegie revolutionized the steel industry through vertical integration, owning all factors of production, and ensuring a quality product. He later sold his Carnegie Steel Factory to J.P. Morgan, who created the United States Steel Corporation.
John D. Rockefeller dominated the oil industry through aggressive practices and formed Standard Oil, perceived negatively by progressive reformers. He controlled key decisions and policies, illustrating the power of financiers like Morgan.