Robber Barons

Open Ended

Opener:
Think of the richest people in the world. Who comes to mind? Are their business practices fair? Is it okay for them to be that rich?

Monopolies

• Immigrants provide a huge source of cheap

labor

• Major advances in technology lead to rapid

industrialization

• Laissez-faire government policies mean no

regulations on industry

• Monopoly – company that
dominates 1 industry

• Some wealth business leaders become known as “robber barons”

Robber Barons

• Use exploitative practices &

government influence

• Pay extremely low wages

• Squash competition

• Create monopolies &

raise prices

​On your own . . .

Open Ended

Think - Pair - Share

With a partner, analyze this image. What objects or people do you see? What do these people or objects symbolize? Are there any special words?

The Original Titans of Industry

Andrew Carnegie’s Mansion

Carnegie’s Dining room in Skibo Castle

Andrew Carnegie

• Scottish immigrant

• Founded Carnegie

Steel Company

• Philanthropist who

gave away millions
of $$$

The Biltmore

Estate

Ashville, NC

Built by
Vanderbilt
family in the
late 1800’s.

Cornelius Vanderbilt

• Controlled shipping

& railroads

• Used vertical

integration to control
every part of the
shipping industries

JP Morgan

▪ Banker & Financier

▪ Bought Carnegie Steel

to form US Steel

▪ Bailed out the US

government

▪ Created GE

JP Morgan’s New York City Residence

JP Morgan’s Private Island Home

John D. Rockefeller’s Estate “Kykuit”

John D. Rockefeller

▪ Founded Standard Oil

▪ Became the richest

man in history

▪ Created an oil

monopoly first through
horizontal
integration and then
vertical integration

While not as wealthy as Bill Gates or Warren Buffet, Rockefeller accounted as a larger percentage of the national GDP

​

​A comparison of wealthy men

Open Ended

From Left to Right,
1. Name each of the figures:

Steel King:

Trust King

Oil King:

What do each of their outfits represent?