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Originally Posted by Radar
Robber barrons had nothing to do with capitalism. They were criminals, and the only difference that would happen with these criminals under socialism is that instead of being wealthy criminals, they'd be wealthy members of a totalitarian government.
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They WERE Capitalism. Some of their names are still with us today. Carneige Hall, Carneige-Mellon University: Andrew and Andrew. They were not the worst, but they had a spotted record. The american industrial revolution did great things for this country, but it was not without it's otrocities.
Jay Gould was a real sleaze ball.
Legacy
In his lifetime and for a century after, Gould had a firm reputation as the most unethical of the 19th century American businessmen known as robber barons. He routinely tested the boundaries of the law, finding ways to turn a situation in his favor when other businessmen might have settled on breaking even. He pioneered the practice, now commonplace, of declaring bankruptcy as a strategic maneuver. He had no opposition to using stock manipulation and insider trading (which were then legal but frowned upon) to build capital and to execute or prevent hostile takeover attempts. As a result, many contemporary businessmen did not trust Gould and often expressed contempt for his approach to business. Even so, John D. Rockefeller named him as the most skilled businessman he ever encountered.
List of businessmen who were called robber barons
* John Jacob Astor (real estate, fur)
* Andrew Carnegie (steel)
* Jay Cooke (finance)
* Daniel Drew (finance)
* James Fisk (finance)
* Henry Flagler (railroads)
* Henry Ford (automobile)
* Henry Clay Frick (steel)
* Jay Gould (finance, railroads)
* Edward Henry Harriman (railroads)
* Collis P. Huntington (railroads)
* James J. Hill (railroads)
* J. P. Morgan (banking)
* John D. Rockefeller (oil, the Standard Oil company)
* Leland Stanford (railroads)
* Cornelius Vanderbilt (railroads, shipping)