Robber Barrons

The late 19th century witnessed a major change in the nature of industrial production. The rapidly expanding economy spawned massive fortunes and created a new industrial elite. Americans generally admired the business leaders of the age, portraying them as great industrial statesmen. Scholars and philosophers of the time agreed that business leaders' success was due to their superior intelligence and hard work. Although nowadays many believe that such business leaders were robber barons who took advantage of the American public to build personal fortunes there is no point arguing that they have revolutionized the American industry and contributed to making the United States an economic superpower.

Developed by English philosopher Herbert Spencer and preached in the United States by Yale professor William Graham Sumner (Document G), Social Darwinism supported Charles Darwin's theory of the survival of the fittest onto laissez faire. Social Darwinists believed that in an unrestricted economy power would flow to the most capable. Thus, the most intelligent and hardworking people would reach the top of the economic ladder and lead the American economy. Many believed that the men who were rich acquired their wealth through being honest, therefore trustworthy. "...ninety-eight out of one hundred of the rich men in America are honest. That is why they are rich, that is why they are trusted with money" (Document E). Russell Conwell believed that "the

men who get rich may be the most honest men you find in the community" therefore it was a person's moral duty to obtain success, for only those who did not work hard enough failed to succeed. (According to Conwell)

As the industrial statesmen built their personal fortunes they also made many positive contributions to the American society. Most Americans enjoyed the higher standard of living, improved technology, more jobs, and greater opportunities. Moreover certain business leaders felt obligated to give back to the society. Steel baron Andrew Carnegie asserted what he called "the Gospel of Wealth"- he believed that he and other powerful industrialists were trustees for society's wealth and that they had a duty to fulfill that trust in humane ways. Over his lifetime Carnegie donated over $350 million to libraries, educational institutions, and the arts. "It is essential for the progress of the race that the houses of some should be homes for all that is highest and best in literature and the arts, rather than none should be so. Much better this great inequity than universal squalor..." (Document C) Just like most intellectuals, Carnegie believed that the society needed to have social and economical hierarchy to function properly and advantageously. Other industrialists, such as John D. Rockefeller who donated over $ 500 million (Document H) believed in giving back to the society and

...