Chapter 14, sec.3, Critical Thinking

Do you think that the tycoons of the late 19th century are best described as ruthless robber barons or as effective captains of industry? Think About:

• Their management tactics and business strategies
• Their contributions to the economy
• Their attitude toward competition

The tycoons can best be described as ruthless robber barons. They can be descirbed this was because of their management tactics and business strategies. Some of these strategies include paying employees low wages and having the factories in poor and dangerous conditions. Because of the dangerous and disgusting facilities the employees became very sick, or injured. However the employees were not allowed to take sick days or vacations, and they were also not compensated for their injuries. Also because of the very low wages whole families had to work in order to survive. Also their contributions to the economy were not really contributing. Even though they may have donated money, they kept an enormous amount for themselves while their workers were suffering.They fought the unions which were a growing thing in America that was helping people to get enough money to live by and better working rights.
Their attitude toward competition was very ruthless. They would lower their prices and gain control of other companies and then raise prices. They made it hard for competing companies to survive and stifled free competition. When the sherman act was founded they found ways to subdue it. Which even more stifled free competions