Free Ebook The Myth of the Robber Barons A New Look at the Rise of Big Business in America

Read The Myth of the Robber Barons A New Look at the Rise of Big Business in America

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Book Details :
Published on: 2010-07-01
Released on: 2010-07-01
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The Myth of the Robber Barons describes the role of key entrepreneurs in the economic growth of the United States from 1850 to 1910. The entrepreneurs studied are Cornelius Vanderbilt, John D. Rockefeller, James J. Hill, Andrew Mellon, Charles Schwab, and the Scranton family. Most historians argue that these men, and others like them, were Robber Barons. The story, however, is more complicated. The author, Burton Folsom, divides the entrepreneurs into two groups market entrepreneurs and political entrepreneurs. The market entrepreneurs, such as Hill, Vanderbilt, and Rockefeller, succeeded by producing a quality product at a competitive price. The political entrepreneurs such as Edward Collins in steamships and in railroads the leaders of the Union Pacific Railroad were men who used the power of government to succeed. They tried to gain subsidies, or in some way use government to stop competitors. The market entrepreneurs helped lead to the rise of the U. S. as a major economic power. By 1910, the U. S. dominated the world in oil, steel, and railroads led by Rockefeller, Schwab (and Carnegie), and Hill. The political entrepreneurs, by contrast, were a drain on the taxpayers and a thorn in the side of the market entrepreneurs. Interestingly, the political entrepreneurs often failed without help from government they could not produce competitive products. The author describes this clash of the market entrepreneurs and the political entrepreneurs. In the Mellon chapter, the author describes how Andrew Mellon an entrepreneur in oil and aluminum became Secretary of Treasury under Coolidge. In office, Mellon was the first American to practice supply-side economics. He supported cuts on income tax rates for all groups. The rate cut on the wealthiest Americans, from 73 percent to 25 percent, freed up investment capital and led to American economic growth during the 1920s. Also, the amount of revenue into the federal treasury increased sharply after tax rates were cut. The Myth of the Robber Barons has separate chapters on Vanderbilt, Hill, Schwab, Mellon, and the Scrantons. The author also has a conclusion, in which he looks at the textbook bias on the subject of Robber Barons and the rise of the U. S. in the late 1800s. This chapter explores three leading college texts in U. S. history and shows how they misread American history and disparage market entrepreneurs instead of the political entrepreneurs. This book is in its fifth edition, and is widely adopted in college and high school classrooms across the U. S. News about Politics in America & the World - Rolling Stone Check out Rolling Stone's latest political news and features covering today's hottest political topics and Matt Taibbi's take. Ever higher society ever harder to ascend The Economist Meritocracy in America Ever higher society ever harder to ascend Whatever happened to the belief that any American could get to the top? Dec 29th 2004 ... Superman - Wikipedia Superman is a fictional superhero appearing in American comic books published by DC Comics. The character was created by writer Jerry Siegel and artist Joe Shuster ... Politicus USA Criticized at Golden Globes Trump Takes to Twitter to Heap Abuse on Meryl Streep. Trump never won an Emmy but called Streep "overrated" as she accepted an award for ... Who Rules America: The Rise and Fall of Labor Unions in ... It was at this point that the Knights seemed to be on the verge of major success due to highly publicized strikes by railroad shop men in 1883 and 1884 against one of ... The Koch Brothers summer reading list for their super ... HEY WHAT'S EVERYONE READING? The Koch Brothers summer reading list for their super secret conservative millionaire consortium 19th Century America - Teacher Oz 19th Century America. Updated July 30 2006. JUMP TO..... Primary Documents - Timelines - Maps 1800 - 1850: From Jefferson to the coming of the Civil War Manifest ... FAQ's - First Transcontinental Railroad - CPRR.org Frequently asked questions about the transcontinental railroad. Central Pacific Railroad Photographic History Museum. Robber baron (industrialist) - Wikipedia List of businessmen who were labeled as robber barons. The people here are listed in Josephson Robber Barons or in the cited source John Jacob Astor (real estate ... Robber Barons And Rebels - History Is A Weapon In the year 1877 the signals were given for the rest of the century: the blacks would be put back; the strikes of white workers would not be tolerated; the ...
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