Filetype Power Point PPTX | Posted on 06 Sep 2022 | 3 years ago
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Who are the Robber Barons?
● WE MAKE
Wealthy industrialists
● Extremely powerful IT RAIN
● Believed in creation of large,
consolidated, organization
● Some came from rags to
riches
What does a monopoly look like?
● When a single company is in
control of an entire industry
● No competition
● Company can increase or
decrease prices if desired
● Example: Andrew Carnegie’s
company: Carnegie Steel
Real Life Applications of Monopoly
● Every man for himself
● Try to buy other people’s property
● Attempt to make everyone else
bankrupt
● Tend to use very forceful and
vulgar techniques
● The strongest survives
Robber Barons
Use Economic
Philosophies to
Rationalize the
Existence of
Monopolies
Economic Philosophies: Social
Darwinism
● Only the fittest survive and
flourish
● Attracted many industrialists like
Carnegie
● Legitimized the success of leading
businessmen
● Believed Government-controlled
economy would fail
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