Ch. 14, sec. 3 critical thinking #3

Do you think that the tycoons of the late 19th century are best described as ruthless robber barons or as effective captains of industry?

-management tactics and business strategies
-contributions to economy
-attitude toward competition

effective captains
tactics
-horizontal /vertical integration
-social darwinism
-bribery of congress
-lassaize faire

effective captains
contributions to economy
-oil and steel easier to access
-vanderbilt RR spread commerce
-provided jobs

ruthless robbers
contributions to economy
-rockefeller raised prices/cut wages
-long hours/dangerous work environment/child labor

After looking at all the data, while the tycoons were ruthless in some aspects of their strategies, overall they were effective captains of industry and used their skills in business to maximize their oppurtunities and capital.