Captains of Industry
No matter where in the world industry was being revolutionized, major factors in the changes were men known as Robber Barons, or Captains of Industry. The two terms do not mean the same thing: a Captain of Industry simply helps to build up a part of a nation’s economy, whereas a Robber Baron is a Captain of Industry who achieved success through dishonest means.
United States:
During the Industrial Revolution in the United States, robber barons greatly affected the advancements of the country. Robber barons were people who gained wealth through dishonest means. A good example of a robber baron is Andrew Carnegie. His wealth came from his steel foundries, which made great business because steel was needed to build the tall skyscrapers that were starting to be constructed in cities. Workers made the steel for very little pay, and the steel was being sold in great amounts. Therefore, he could easily pay them while still making a profit. After Carnegie sold his steel industry to J.P. Morgan, Morgan monopolized New York and the United States in an attempt to buy out every major industry. Robber barons use the hard work of others to make themselves rich. |
Germany:
Germany had major revolutionary advancements in specific industries. Construction of railroads, coal mining, and iron and steel production were the largest improvements made during the Industrial Revolution. In the late 1800s, Alfred Krupp was one of the wealthiest and most successful people to be a part of this. At first, his steel factory had only under 150 employees. By 1870, this had catapulted to over a thousand working at this drastically expanding company. However, steel was not the only industry making money. The electrical sector was also moving forward. An example of this would be Ernst Werner von Siemens, who was one of the starters of these changes. Railways were also, and still are today, a major part of Germany and its means of transportation. All of this caused a great increase in population, starting at around 41 million in the early 1870s to a little under 50 million two decades later.Compared to the size of the country, this is a considerable amount. As in the United States, urbanization was increasing, and cities such as Berlin doubled in size. The economy was thriving, and Germany cleared itself a seat among the major industrial countries, even surpassing Britain. |
Comparison:
No matter where in the world industry was being revolutionized, major factors in the changes were men known as Robber Barons, or Captains of Industry. The two terms do not mean the same thing: a Captain of Industry simply helps to build up a part of a nation’s economy, whereas a Robber Baron is a Captain of Industry who achieved success through dishonest means. |