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The Socio-Cultural Impact of the Robber Barons on U. S. Society. (1) The period between 1870 and 1930 in American history, is being commonly referred to as the time of robber barons. Modern economists associate this period with accumulation of the initial capital by captains of industry, who were able to exploit socio-political trends of the time to make enormous fortunes.
Apparently, it was quite possible, during this time, for industrious and intelligent individual for become rich, within a matter of few years, if he happened to be in the right place in right time. The term robber baron has been used for the first time by Lawrence Braun, who in his 1902 article Evolution of the Robber Baron, suggested that the methods that allowed Americas few super-rich to acquire their wealth, could be thought of within a context of broad day light robbery, because of the ruthlessness, associated with the process: Now in the twentieth century come the modern robber baron in the shape of the railroad financier: he swoops down from his office like his ancient prototype from his castle (Braun). We can define robber baron as an individual who manages to concentrate an enormous wealth in his hands, which in its turn, allows him to exercise a political influence, much greater then it is being prescribed to him by Constitution. This wealth and numerous political connections that lead to the very top, allow such individual to be referred to as someone who is simply beyond the reach of the law. We can say that Robber baron is an equivalent of powerful feudal in 19 th and 20 th centuries. Historians and economists have different theories that explain the phenomenon of robber barons from different cultural and economic perspectives.
However, it would be wrong to refer to the accumulation of enormous wealth by few individuals, within a context of economical theory alone, as Marxists used to do, because such approach will inevitably lead to wrong conclusions, on our part, since banal greed is not only the motivational factor of social progress. We can only agree with Bradford DeLong, who in his article Robber Barrons says: The causes of immense wealth have nothing to do with the determinants of the relative supplies of skilled and unskilled workers, or with the technological requirements of production. It makes me think that the overall level of wealth concentration is much more a political and a cultural phenomenon than an economic one: that we through our political systems and our attitudes have much more to do with the concentration of wealth than does the dance of factor supplies and technology-driven factor demands (DeLong). During the course of this paper, we will analyze different aspects of the era of robber barons.
This will allow us to get a better understanding of phenomenons essence and to figure out whether our conclusions might have practical implications, when it comes to discussing American history, as whole. (2) One of the most extraordinary events in Western history was the First Industrial Revolution, which began in Britain in late 18 th and early 19 th centuries and spread out to the rest of the world. It was brought about by the development of mechanized methods of doing work, and especially by the early inventions in textile industry. In U. S. , the beginning of Industrial Revolution is strongly associated with the name of Francis Cabot Lowell, who in 1814 established Boston Manufacturing Company in Waltham, Massachusetts. This marked the beginning of American modern textile industry. Today, Lowell is considered as founder of what now is referred to as corporate culture.
However, it was not up until 1870 that the process of industrialization started to affect the lives of ordinary American in immediate manner. The invention of steam engine and railroad made this world instantly smaller, in the way the invention of Internet, at the end of twentieth century, nullified the notion of geographic distance, when it comes to the exchange of information. U. S.
Government did not have to means to fully exploit the economical possibilities, related to the industrial boom at the end of 19 th century, which is why it often relied on the services of economic entrepreneurs, which had an inborn sense for financial profit. All these people needed at the time, was governments recognition of their professional competence, as such that allowed them to receive loans from the banks, as the mean of financing industrial projects. For example, Leland Stanford was able to secure a loan for building a railroad between Americas East and West coasts, without having to invest any of his own money. At the same time, his share of the profit from the road accounted to 45 %.
In other words, he was able a make enormous profits, within a very short period, simply because he knew how to recognize economic opportunities, related to the Industrial Revolution, early enough. Just as in 16 th century, when the interests of English pirates coincided with geopolitical interests of expanding British Empire, robber barons of 19 th century were able to use governments intention to civilize America to their own advantage. As resulted, both parties were able to benefit from the deal. It is namely the second phase of Industrial Revolution in America that we associate with such names as Leland Stanford, Collis Huntington, Jay Gould, James J. Hill and Andrew Carnegie.
These people were considered billionaires in their time. It is Collis Huntington, who used to be referred to as the finest example of capitalist shark by early Marxists. Nevertheless, the attitude of ordinary Americans towards these people, at the time, was slightly different from how citizens think of their financial nobility nowadays. We cannot explain it by the fact that robber barons of 19 th century used to participate in philanthropic activities alone, because the same can be said about modern capitalists. Apparently, there was something else, which allowed people to associate mentioned individuals with metaphysical positiveness, on subconscious level. In his article, DeLong provides us with an insight to that: Look at America's billionaires as they stood at the peak of wealth concentration - and the peak of the relative frequency of billionaires - in approximately 1900.
Nine out of the twenty-two fortunes were railroad fortunes. Three of the fortunes were inherited. Five were in finance -- and in 1900 finance meant almost exclusively railroad finance (DeLong). In other words, the accumulation of wealth, on the part of Americas robber barons of 19 th century, came as direct result of scientific and cultural progress, which we strongly associate the development of Western civilization in that period.
Just as the discovery of America by Christopher Columbus in 15 th century paved the way to the series of scientific discoveries, the invention of the railroad in 19 th century allowed the economic unification of this country, which had an immediate positive effect on citizens that belonged to different social strata. Becoming rich and powerful, on the part of American capitalists of the time, coincided with living standards of ordinary Americans being continuously improved. The building of railroads allowed new industries to be established across the country. In its turn, it resulted in creation of an additional value, which was a main driving force behind America becoming an economical power in the world.
It is perfectly natural for the people who benefit their fellow citizens by providing them with prospects of work, to be able to enrich themselves, as reward. Even though that there was a huge social discrepancy between robber barons and ordinary citizens of the time, the accumulation of wealth, on the part of barons, was not the function of American economy, as whole. At the time of Second Industrial Revolution, America was vast and young, which explains the reason why government did not strive to spread nations wealth more evenly among the citizens, even though that the principle of equality is a spiritual corner-stone of American Constitution. The fact that people were being born socially unequal was compensated by numerous opportunities of enrichment that industrious individuals of the time were able to use to their own advantage.
We can say that American society was based on National-Socialist principles, to a certain degree it was racially homogeneous and it valued individuals talents above his or her social affiliation. The first American billionaire, Andrew Carnegie, for an example, was a son of poor Scottish immigrant, for whom owning a horse was all he could dream about. The article The First Billion-Dollar Success Story: How Carnegie Did It, which can be found on the site of Evan Carmichael. Com, leaves no doubts as to the fact that it was Carnegie's personal qualities that allowed him to become so enormously rich: He was a poor immigrant whose name would soon be unforgettable in his adopted country.
America would never be able to repay the contribution this Scotsman would make to their homeland (Evan Carmichael. Com). The rising man must do something exceptional, and beyond the range of his special department. He must attract attention - used to say Carnegie and he lived up to his own words. His name is associated with the rise of steel industry in this country.
This again, gives us a right to suggest that becoming rich, on the part of people that used to be referred to as new money, in their time, was socially acceptable, because it was beneficial to society. The fact why such capitalists as Carnegie or Huntington kept on accumulating their wealth, even after they were in position to satisfy their wildest whims, has a rather psychological explanation. These people were born in poor families. Thus, their apparent greed for money can be discussed within a context of tribute to their childhood dreams. It would be more correct to say that money owned the robber barons of 19 th century more that barons owned money. This explains why Carnegie, for example, led a very modest lifestyle.
Throughout his life, he strongly disliked people who were trying to show off their riches, because he associated it with a bad taste, on their part. The same can be said about other American industrialists of the time, to greater or lesser degree. In the next part of this paper, we will discuss robber barons strive towards enrichment as expression of their religious beliefs. (3) Max Weber, in his book The Protestant Ethic and the Spirit of Capitalism provides us with explanation of what was the initial cause of rise of wild capitalism in America, at the time of Second Industrial Revolution. According to the author, it was a spirit of Protestantism that prompted great many people in America to refer to their fellow citizens existential value, within a context of their monetary value. Protestantism removed the link between man and the God, by denying the authority to the institute of Church, in the classical sense of this word. It suggested that Bible alone should serve as a guiding light to true believers.
However, as we are well aware, the number of Biblical interpretations corresponds to the actual number of people who read holy book. Protestants needed some kind of objective indication that they lead a righteous lifestyle. They needed the assurance that God favors them. What can serve better as an indication of Gods love than Earthly riches bestowed upon righteous individual?
Therefore, the apparent greed of early robber barons can be explained by the fact that they were a devout Christians, whatever illogical this suggestion might sound: Protestant ascetic emancipated from planless otherworldliness and irrational self-torture. It had developed a systematic method of rational conduct with the purpose of overcoming the status naturae, to free man from the power of irrational impulses and his dependence on the world and on nature (Weber, p. 72). Thus, the accumulation of wealth by robber barons was meant to strengthen their religious convictions. These convictions, of course, had nothing to do with a spirit of true Christianity a masochist Semitic cult, originated in the desert. It is a biological makeup of White people that caused them to idealize Christianity, since the time it found its way into the Roman Empire. Catholics and Protestants used to idealize Christianity in their own ways, but the value of Protestantism, as religion, consists in fact that it found the way to turn Christian obscurity into the driving force behind scientific and technological progress, up until very recently, when it became one of many dirty business, along with arms trade and drug trafficking.
Today, it sells the prospects of illusionary salvation to senile folks. It was not barons association with wealth that was the most revolting about them, but the fact that their self-righteousness was slowly convincing them that they are beyond the law. In his book The Age of Big Business, Burton J. Hendrick provides us with examples of social attitudes, on the part of Americas rich and powerful of the era: The man who was to accumulate the first monstrous American fortune, Cornelius Vanderbilt, is accredited with a paltry $ 1, 500, 000. He used to be proud of the fact that there was no law written for him What do I care about the law? Hain't I got the power? (Hendrick).
Ordinary citizens were starting to wonder about whether it was socially appropriate for the robber barons to be in position to buy judges and politicians, in order to win their favoritism. It is very ironic that such a thought would never occur to milliards of 19 th century, who did not even have a slightest respect to the law. Collis Huntington, for example, used to be proud of the fact that used to bribe politicians. In his article, Bradford DeLong quotes him saying: If you...
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Research essay sample on Second Industrial Revolution 19 Th Century
