What were the requirements and benifits from being a robber baron in the 1800's?
The requirements were to be rich and able and willing to buy political influence and corrupt law enforcement get away with murder and intimidation to take land from farmers for ranching, mining or water rights. The benefit was that fortunes were made by determining or having advance knowledge of where railroads would be routed, and cities would be located, so that they could acquire valuable land along the route, and water rights, cheaply.
For a fuller discussion of the subject of robber barons, see
http://www.j-bradford-delong.net/Econ_Articles/Carnegie/DeLong_Moscow_paper2.html
Sometimes the phrase was applied (unfairly) to any "captain of industry", such as Carnegie, Rockefeller and J.P. Morgan who managed to dominate it by virtue of their own hard work and vision.
The phrase "robber baron" apparently originated in Germany.
In South America, a variation of the "robber baron" was the "rubber baron"
To understand the requirements and benefits of being a robber baron in the 1800s, it's essential to consider the historical context of the term. "Robber baron" refers to certain industrialists and business tycoons who gained immense wealth and power during the era of rapid industrialization in the United States. Here's how you can gather information on the requirements and benefits of being a robber baron:
1. Research the Industrial Revolution: Begin by understanding the broader historical background of the Industrial Revolution in the 1800s, primarily focusing on the United States. This revolution brought advancements in manufacturing, transportation, and technology, leading to significant economic growth.
2. Identify notable robber barons: Look into prominent figures from the time, such as Andrew Carnegie, John D. Rockefeller, J.P. Morgan, and Cornelius Vanderbilt. These individuals were known as robber barons due to their controversial business practices.
3. Study their business strategies: Investigate the methods these industrialists employed to accumulate immense wealth and power. They often used tactics such as monopolistic practices, horizontal or vertical integration, ruthless competition, exploitative labor practices, and strategic lobbying of the government.
4. Assess the requirements: Robber barons typically required substantial capital investment, strong entrepreneurial skills, access to resources, and the ability to navigate complex business landscapes. They often created or took advantage of monopolies by controlling or dominating specific industries or sectors.
5. Analyze the benefits: The benefits of being a robber baron in the 1800s included vast wealth accumulation, immense political influence, control over industries and markets, and the ability to shape economic policies. They were able to establish powerful empires and leave a lasting impact on the nation's economy.
Remember to further explore primary and secondary sources, such as books, articles, and scholarly analysis, for a comprehensive understanding of the requirements and benefits of being a robber baron during the 1800s.