 Robber Barons  Steals from public  Interprets laws in their own favor  Pays workers low wages  Dangerous working conditions  Drains natural resources  Drives competitors out of business  Captains of Industry  Increases supply of goods  Builds libraries, museums, schools, medical advances, land conservation  Creates scholarships  Creates new jobs  Makes new products  Develops new markets

 Was an Immigrant as a child  In the 1870s he built the Carnegie Steel Company  Sold his company to J.P. Morgan in 1901, who formed U.S. Steel (the largest and most profitable company in the world at the time)

 Robber Baron?  Paid workers small wages and worked them long hours  Dangerous working conditions in his mills  Used violent force to break unions and strikes

 Captain of Industry?  Gospel of Wealth ▪ People should be free to make as much money as they can. After they make it, however, they should give it away.  Funded more than 3000 libraries and universities worldwide  Gave away more $350 Million (over $4 Billion today) to charities

 Formed Standard Oil in 1870  Bought out all competition

 Robber Baron?  Drove competition out of business  Set up a monopoly to control over 90% of the oil industry  Forced retailers to sell his products

 Captain of Industry?  Gave away his money to foundations that had a major effect on medicine, education, and scientific research  All told, Rockefeller gave away about $550 million (more than $12 Billion today) to charities.