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Identifying the captains of industry and the major role they played in the us economy

The Captains of Industry for kids: Thomas Carlyle coined the term The term 'Captains of Industry' was coined by Thomas Carlyle a Scottish writer and historian in his book called "Past and Present" in which he commented on the Impact of the Industrial Revolution during the Victorian era. The Captains of Industry were successful businessmen who created great American companies.

Unlike the infamous 'Robber Barons', the Captains of Industry were compassionate men who made important contributions that had a significant impact on the nation and on the people of America. The men who deserved to be called Captains of Industry were those who made a positive contribution to the nation by expanding markets and increasing trade, providing more jobs and increasing productivity. Some put their wealth to improve the lives of others with generous acts of philanthropy charity.

Captain of industry

Captains of Industry Many of these men, called the Captains of Industry, were entrepreneurs who took risks developing the new inventions and technology during the era of the Industrial Revolution.

Their determination and hard work earned them money, fame and success. These were men of vision who guided and built new industries and made a significant contribution to the economy of the United States.

Robber Barons or Captains of Industry? There is a fine line between some of the men who are frequently referred to as being 'Captains of Industry'. Many ordinary American workers would have described these men as ' Robber Barons ' who used unfair business practices. A prime example is George Mortimer Pullman — who made his fortune by designing the Pullman sleeping car.

Pullman founded a company town for his workers - the type of action that would describe one of the Captains of Industry. Pullman might have initially been well intentioned but later deserved the name 'Robber Baron'. Following the Panic ofin an effort to keep his profits, Pullman increased working hours, cut wages and cut jobs which led to the violent dispute known as the Pullman Strike.

  1. As pointed out by Jon the captains of industry were innovative and responsible for the efficiencies that led to the unprecedented growth. Once again, two well-prepared and knowledgeable people presented the pro and con sides of the focus question.
  2. All things considered this was another success. The Captains of Industry while good for the economy hurt the people and the welfare of the country.
  3. None of that was good for the country and these men knew it.
  4. The following Rutherford Hayes video will give you additional important facts and dates about the political events experienced by the 19th American President whose presidency spanned from March 4, to March 4,

Who were the Captains of Industry? List of Names of Captains of Industry Whether a man was referred to as one of the Captains of Industry, or one of the Robber Barons, depended upon a person's perspective.

Our list of the Captains of Industry include men such as J. A few of these men also deserved the title of one of the Robber Barons. A short description of these men defines their contribution to the nation.

For additional facts and information refer to the Rise of Big Business and Corporations. Captains of Industry for kids: Cyrus McCormick died in May 13, Morgan was a leading financier who founded the banking company J.

During the Panic of the banker J. Rockefeller — was the head of the Standard Oil Company, the first great U. However he was ruthless and used questionable and unethical methods and would therefore also be included in a list of the Robber Barons. Andrew Carnegie Andrew Carnegie —a self-made man who became a steel tycoon was a Philanthropist and donated towards the expansion of the New York Public Library. Andrew Carnegie attempted to soften the insensitive philosophy of Social Darwinism by publishing his article called the 'Gospel of Wealth'.

His 'Gospel of Wealth' described the responsibility of philanthropy by the new upper class of self-made rich to further social progress and donated millions of dollars to charitable causes. George Westinghouse George Westinghouse — was an inventor and entrepreneur. He invented the railway air brake in which improved railroad safety.

George Westinghouse was also a pioneer in the electricity industry with the development of alternating current Captains of Industry for kids: Thomas Edison Thomas Edison — was a great inventor and businessman. He developed the practical electric light bulb, the phonograph and the motion picture camera.

His inventions impacted the whole world. Hinde — was an industrialist and entrepreneur in the steamboat and railroad industries and one of the Captains of Industry.

Hinde was a great philanthropist who donated to many charities in southern California and lived a modest lifestyle despite his enormous wealth. George Ferris George Ferris was a talented civil engineer, inventor and an astute businessman involved in large-scale engineering projects involving the construction of railroads and bridges.

He was the inventor of the Ferris Wheel which was the most popular attraction at the Chicago World's Fair attracted over 27 million visitors from all over the world.

De Witt Clinton De Witt Clinton was a man of great vision and responsible for the construction of the Erie Canal that was perceived as an engineering marvel and some even called it the "Eighth Wonder of the World". His contribution has led us to include him on our list of the Captains of Industry.

James Duke James Duke — was a U. Samuel Morse Samuel Morse developed and patented the first electrical telegraph in the United States in The invention of the Morse Code and the first telegraph line enabled people to communicate instantly over distances that once required days or weeks of travel. Can you imagine a world without telephones? He registered over patents for improving machinery in the gunpowder making process.

Cornelius Vanderbilt Cornelius Vanderbilt — was an industrialist in railroads and steamboats. He accumulated the largest fortune in the United States.

Although undoubted one of the Captains of Industry he was a ruthless businessman who cut shipping rates forcing his competitors out of business which gained the reputation of one of the Robber Barons. Hill — was a railroad industrialist who was known as 'The Empire Builder'.

Were the founders of American industry "robber barons" or "captains of industry?"

Unlike many of the Robber Barons he was supportive of farmers and during the depression and times of drought he donated cattle and grain to the farmers. He deserved the name as one of the Captains of Industry. Edward Harriman Edward Harriman - was a financier and philanthropist who formed the banking firm Harriman Brothers and Company.

He was the trustee of the American Museum of Natural History.

  1. Prosperity usually comes at the expense of others. Try explaining that to the people who lost their jobs or arms to the new machines or American workers today who have lost their jobs to a computer or to a cheaper labor force overseas.
  2. Where do we draw the line between unfair business practices and competition that leads to innovation, investment, and improvement in the standard of living for most? The captains actually took advantage of the loop holes in our newly developing nation.
  3. The men who deserved to be called Captains of Industry were those who made a positive contribution to the nation by expanding markets and increasing trade, providing more jobs and increasing productivity. Unlike the infamous 'Robber Barons', the Captains of Industry were compassionate men who made important contributions that had a significant impact on the nation and on the people of America.

Captains of Industry for kids - President Rutherford Hayes Video The article on the Captains of Industry provides detailed facts and a summary of one of the important events during his presidential term in office. The following Rutherford Hayes video will give you additional important facts and dates about the political events experienced by the 19th American President whose presidency spanned from March 4, to March 4,