Captains of Industry vs. Robber Barons

Rockefeller cut waste in oil industry and was able to lower the cost of production. This led to higher wages for some and lower prices of goods.

• Captain of Industry

• Robber Baron

Rockefeller forced railroads to give Standard Oil rebates, and kickbacks for using the railroads.

• Captain of Industry

• Robber Baron

Rockefeller owned not only Standard Oil, but also bought out or drove out other smaller oil companies. He had a complete monopoly of the oil industry and knew one else could compete against him.

• Captain of Industry

• Robber Baron

Rockefeller lived during a time of great industrial change. There were no laws from the government restricting what you could or couldn’t do or established business practices you had to follow. He used the tools available to him as well as his own original ideas.

• Captain of Industry

• Robber Baron

Rockefeller used rebates he received from railroads to lower prices and destroy competitors.

• Captain of Industry

• Robber Baron

Cornelius Vanderbilt created a monopoly on the railroads and once he controlled that market, he made farmers pay enormous shipping fees. The fees were so high many farmers went out of business.

• Captain of Industry

• Robber Baron

Andrew Carnegie grew up in very poor conditions and went on to build a billion dollar steel industry (Carnegie Steel🡪later sold to J.P. Morgan as U.S. Steel)

• Captain of Industry

• Robber Baron

Andrew Carnegie often damaged the environment by putting factory pollution into the air and water.

• Captain of Industry

• Robber Baron

Apple has created the most revolutionary piece of technology the world has ever known in the smart phone.

• Captain of Industry

• Robber Baron

Apple gouges the consumer with $700 phone costs for technology that is needed by all. This puts many poor individuals on the outs when it comes to a piece of technology that is much needed

• Captain of Industry

• Robber Baron