Robber BaronBy: Kayla Gonzalez, Ashley Pomeroy,

Sarah Layton, & Kyrstian Jordet

Robber Barons

• Certain people that were willing to do whatever it took to make money. Some went as far as killing and stealing just to gain wealth.

Someone who found away to make a lot of money Someone who found away to make a lot of money while still following the rules of the Gilded Age.while still following the rules of the Gilded Age.

Business Rises Businessmen of the Second Industrial

Revolution who helped create industrial towns and cities in the Northeast with new factories, and hired diverse industrial working classes, many of them new immigrants from Europe. Most of these men started off poor and built new industries.

Monopoly exclusive control of a commodity or service in a

particular market, or a control that makes possible the manipulation of prices.

Steel Mills were one of the biggest employing companies

Andrew CarnegieAndrew Carnegie rose from rags to riches rose from rags to riches because of the business Industry. He was because of the business Industry. He was considered to be a Captain of Industry and a considered to be a Captain of Industry and a Robber Baron.Robber Baron.

Carnegie became greedy and drove for more and Carnegie became greedy and drove for more and more wealth, without limit, and believed it was his more wealth, without limit, and believed it was his duty to give it all away by the time of his death. duty to give it all away by the time of his death. The richer he became, the more generous he The richer he became, the more generous he could be. could be.

Carnegie Came up with the ideas of Horizontal Carnegie Came up with the ideas of Horizontal and Vertical Integration.and Vertical Integration.

Horizontal and vertical integration

• Andrew Carnegie began controlling the business world of steel with his smart tactics of horizontal and vertical integration

• Horizontal integration: the process of merging similar industries, industries that produce similar products.– He bought out all the competing businesses– Now there is only place for buyers

• Vertical Integration: buying out or controlling all the businesses connected with the development of your product– In control of the rails and mines, Carnegie could reduce the cost

for his supplies and produce cheaper steel

• Carnegie created one of the largest multi-millionaire corporations with his steel company.

integration

Rockefeller

• Rockefeller was seen as a Captain of Industry but is the definition of a Robber Baron. He used his knowledge of Business to work his way to the top.– He ruthlessly forced other oil

companies out of business– Brought people to his side and

forced oil companies to “join or die”

– When he could, he sold his oil for less than other companies and once they were all out of business, he hiked the prices higher than ever!

“Robber Baron”

• Herbert Spencer adapted the ideas of Darwin and combined them with the ideas of human nature to create Social Darwinism.

VideoVideo

Gilded Age Robber Barons And Captains Of Industry - YouTube