Final answer:
The term 'robber barons' refers to leaders of big business who accrued massive wealth through exploitative practices during the Gilded Age. They are known for their unethical business tactics and monopolistic control, often at the cost to society and workers. Option 2
Step-by-step explanation:
The term "robber barons" during the Gilded Age characterizes leaders of big business. These were the powerful industrialists and financiers who sometimes employed unethical and exploitative practices to amass their wealth. The term suggests that like the robber barons of medieval Europe, these men used their power and influence to effectively 'rob' from the public and gain control over large swaths of the economy.
The so-called robber barons, such as Jay Gould in the railroads, exploited new technologies and the industrial growth of the era to create monopolies and manipulate markets. These individuals amassed fortunes at the expense of the workers and the public, often bending laws to their advantage. Despite their considerable contributions to the expansion of American industry, their unethical practices led to their negative characterization.
The distinction between "captains of industry" and "robber barons" is nuanced, as even those known for their philanthropy such as Andrew Carnegie and John D. Rockefeller had practices at times that aligned with the exploitative approach attributed to robber barons. Nevertheless, their impact on the industrialization and urbanization of America was undeniable. Option 2