Question

All of the following are true about robber barons except:

a) They were wealthy industrialists.
b) They often engaged in unethical business practices.
c) They contributed significantly to philanthropy.
d) They accumulated immense fortunes.

Answer 1

The term 'robber barons' denotes wealthy 19th-century businessmen known for unethical practices, not for their philanthropy, despite some exceptions like Carnegie.

Step-by-step explanation:

The term 'robber barons' refers to certain wealthy and powerful 19th-century American businessmen who were known for their aggressive business tactics. All of the following are true about robber barons except that 'They contributed significantly to philanthropy'. While it is true that some, like Andrew Carnegie, became famous for their philanthropic ventures, the term 'robber baron' more so encapsulates the unethical practices and exploitation associated with their pursuit of wealth. They did accumulate immense fortunes and were wealthy industrialists engaged in such practices that often included manipulating stock markets, paying low wages, crushing competition, and bribing officials.