Myth Of The Robber Baron Essay

Vanderbilt, Hill, The Scrantons, Shwab, and Rockefeller are what were believed to be “Robber Barons”. This was a phrase given to entrepreneurs by society because they believed that they were only out for themselves. Many believed that they were political entrepreneurs who's only worry in life was to make money, when in fact they wanted the exact opposite. In the book Myth of the Robber Baron, Burton Folsom tells the story of how these men who were thought to be out for themselves helped to shape society. These entrepreneurs are some of the most iconic businessmen in all of history because they gave us examples on how to run successful companies. Commodore Vanderbilt faced many setbacks when it came to his business life, but that never stopped …show more content…
The amount of tracks that they would lay down determined what the government would pay political entrepreneurs. The tracks being laid were to build the Union Pacific and Central Pacific railroads. The money they were receiving from the government only pushed them to produce more rather than focusing on the quality of the product. When Hill caught news of this poor quality that was being done he knew he could build a better quality that was cheaper for his consumer. Hill was a smart man because not only did he build the railroad, but he also came up with other ideas that would benefit people and his business. He gave farmers in the low populated northern states cattle and crops to help them live a better life. In return he would make a profit off of their shipping fees, so it was like a win-win situation for Hill. “God is not unjust; he will not forget your work and the love you have shown him as you have helped his people and continue to help them.” (Hebrews 6:10) James Hill worked his hardest possible to serve who lived in the U.S. to have safer and better quality traveling across …show more content…
By learning from his superiors he believed he could have a near perfect product. He worked under Carnegie who eventually sold his steel company to J.P. Morgan. Schwab started his business with J.P. Morgan and wanted high quality steel products with low prices. He would produce homes and cities that revolved around steel factories, which gave many men and women a place to start their lives. The Scranton family was just like Mr. Schwab but used iron instead of steel. They developed New York with towns, which later allowed their business to grow. They built cities around railroads that helped people get jobs and were able to get rid of iron production from