Robber Barons
Definition
Robber barons is a derogatory term used during America's Gilded Age (late 19th century) for wealthy industrialists who amassed their fortunes through ruthless business practices such as exploiting workers or manipulating markets.
Related terms
Gilded Age: A period from around 1870-1900 characterized by rapid economic growth but also marked by severe social problems such as income inequality.
Trusts/Monopolies: Large corporations that control an entire industry or market. They can manipulate prices and stifle competition, similar to what many robber barons did.
John D. Rockefeller: An example of a "robber baron," he was an oil tycoon who used ruthless business tactics to establish a near-monopoly in the American petroleum industry.
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