Robber Barons (redirected from Robber barons (disambiguation))

Robber Barons

A disparaging term dating back to the 12th century which refers to:

1) Unscrupulous feudal lords who amassed personal fortunes by using illegal and immoral business practices, such as illegally charging tolls to merchant ships that passed through their land.

2) Modern-day businesspeople who allegedly engage in unethical business tactics and questionable stock market transactions to build large personal fortunes.

Notes:

Due to their unethical business practices, such as the exploitation of labor, the general public typically regards these aggressive capitalists with disdain. However, some historians argue that the late-19th century entrepreneurs usually referred to as "robber barons" - including Andrew Carnegie and John D. Rockefeller - are responsible for building a large portion of the U.S.'s current economic clout, because of their large investments in burgeoning American industries. Some also went on to become high-profile philanthropists.

See also: Asymmetric Information, Insider, Insider Information, Insider Trading, Jekyll and Hyde, Leprechaun Leader, Mad Hatter, Securities & Exchange Commission - SEC