Perspectives of Entrepreneurs

Robber Barons or Captains of Industry?Perspectives of EntrepreneursFocus QuestionIn a short of response of two to three sentences, answer the following question:

How would you define success?ObjectivesAfter todays lesson, you will:Define Robber Baron and Captain of Industry with complete accuracy.Debate which term is more accurate in the late 19th century business world.The Gilded AgeLate 19th century referred to as the Gilded AgeTitle taken from a Mark Twain satireMeaning:Conditions in America seemed wonderful, but underneath all was base and poor.Monopoly Became the RuleNearly all industries part of the monopolistic drivePromoted by ideas of Social DarwinismSurvival of the FittestJustification of ruthless tacticsJustified the depths of povertyJustified autocratic approaches

Which Were They?ROBBER BARONSExploited WorkersDrained Natural ResourcesControlled GovernmentDevastated CompetitionRuled Autocratically

CAPTAINS OF INDUSTRYCreated wealthCreated JobsMade the U.S. a world powerDeveloped a bevy of new products and industrial proceduresPhilanthropistsThe Gospel of WealthSome grew uncomfortable with the situationAndrew Carnegie promoted the Gospel of WealthRiches were justified if the wealthy used his wealth for the community

The Man Who Dies Rich Dies Disgraced.

Reforms proposedMany saw the government as a tool to prevent monopoliesSherman Antitrust ActForbade combinations in restraint of tradeDid not define trustsRarely used against any monopoly.IneffectiveSummaryIn a short response of 2 to 3 sentences, explain how you would improve todays lesson: