Gilded Age
The Gilded Age was a period of time in American History between the Civil war and World War I. During the time, the economy was booming and there was very much political and corporate corruption. During the Gilded Age, there were many people known as Robber Barons. Robber Barons either used unethical practices or use monopolies to gain control of markets. Many of these practices are now illegal because of the people doing them during the Gilded Age.
One very well known robber baron is John D. Rockefeller. Rockefeller had a monopoly on oil companies. He is thought to be the richest man in modern history owned a business called "Standard Oil Company". Rockefeller used both horizontal and vertical integration to make the most and expand his businesses. Rockefeller passed away on May 23, 1937 leaving the majority of his wealth and business to his son, John D. Rockefeller Jr.
Another well know robber baron of the Gilded Age is Cornelius Vanderbilt. Vanderbilt made his wealth from railroads. As a child he worked as a steam boat captain for his fathers company. This made him get into the transportation industry. He eventually opened up new railroads and owned many railway lines up north through Chicago to New York. Some of his moist famous railways were the Grand Central Depot, the New York and Harlem Railroad and the New York and Hudson River Railroad. Vanderbilt played a huge role in the urbanization of the U.S and his railways allowed for much a faster commute, and trade leading to a better economy.
Sources:
Youtube Crash Course
History.com
Wikipedia
Biography.com
Youtube Crash Course
History.com
Wikipedia
Biography.com