The title of Robber Barons is appropriate for these tycoons who used dishonest strategies for their own benefit.
What does the term "Robber Barons" mean?
Robber barons is a metaphorical term used to derogatorily refer to some late 19th century American businessmen who are accused of using unscrupulous methods to enrich themselves.
According to several investigations, it has been established that several of these businessmen used dirty strategies to get money from their businesses. For example:
- Rockefeller - He monopolized the oil industry and made secret contributions to the railroads to transport the oil and dominate the industry.
- Morgan - Avoided competition between the two railroad companies at the time to avoid negative effects on the US economy and his business as a banker.
- Carnegie - Monopolized the steel industry by allying with the railroad industry to transport their products.
According to the above, it can be inferred that despite the contribution that these tycoons made to the industry, they used partner strategies that affected companies that were just emerging, so the title of robber barons is correct.
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