Savannah Noss

Period 1

3/2/13

APUSH

Thief Barons, a term used in the late 1800's and early 1900's to describe a businessman who made a huge amount of money, today we would call them billionaires. It was not necessarily the fact that they made an array of wealth, it had been more the way they made it. Out of all cases the acquiring of wealth was done in that which was considered a ruthless manor and dishonest ways. A robber souverain was more interested in acquiring prosperity than the safety of his employees, the quantity of work hours performed in a week, or the amount of wage being paid for a days function.

A fantastic example of a robber baron would be Andrew Carnegie. The robber grande of the stainlesss steel industry. Having been instrumental in starting the 72 hour work week, paying out below fair income and having dangerous working conditions. Andrew Carnegie cornered the market on the steel industry and made the first large rise building. He was the sole business in the field, consequently , he may set his prices and up his revenue.

The thief barons were known for their business tactics that could enable those to amass a wealth by monopolies. They would part the market on the product or service and make it impossible to get, acknowledge through them. One thing that robber souverain of today and yesterday share is monopolies. If at all possible, the robber junker or billionaire as we call up them today, would try to corner the complete market prove product or service, so that it is difficult for competition inside their particular market. A second thief baron of that time was Steve D. Rockefeller. The robber baron with the oil market. Rockefeller monopolized the oil industry with Standard Essential oil Company. When ever Edwin Drake discovered essential oil in 1859, Rockefeller found the future. He introduced tactics that totally reshaped the oil industry. He applied all of his methods to reduce the price of oil to his buyers. His income soared and his competitors were crushed 1 by 1. Rockefeller

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