3.1 Trade policies & protectionism

These flashcards cover the contrasting characteristics of Captains of Industry and Robber Barons as described in the lecture notes.

What were the typical characteristics of Captains of Industry?

They helped build American infrastructure, created jobs, made production efficient, and contributed to the economy.

What describes the behavior of Robber Barons?

They exploited workers, took advantage of the less fortunate, and engaged in ruthless business tactics to amass wealth.

What was one way Captains of Industry contributed to society?

They gave back to America through philanthropy, enhancing the lives of many.

How did Robber Barons influence politics?

They offered bribes for political favors and corrupted the government.

In what way did Captains of Industry help the government?

They bailed the government out of debt and built federal projects.

What was a negative impact of the Robber Barons on society?

They drained resources from the nation and created a false sense of prosperity.

How did the Captains of Industry create economic growth?

By implementing new innovations, building factories, and increasing the supply of affordable goods.

What method did Robber Barons use to eliminate competition?

They ruthlessly drove their competitors out of business.

Why were Captains of Industry seen as positive figures by some?

They were viewed as hardworking individuals who earned their fortunes through effort.

What unethical practices did Robber Barons engage in regarding workers?

They kept wages low and maintained poor working conditions.